Ryder System (R) 10-Q 26 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	RYDER SYSTEM INC
Entity Central Index Key	85,961
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)	53,088,113

Consolidated Condensed Statemen

Consolidated Condensed Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Total revenues	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
Other operating expenses	30,344	28,445	94,760	87,122
Selling, general and administrative expenses	215,506	212,249	637,282	614,809
Non-operating pension costs	1,161	6,958	3,241	20,875
Used vehicle sales, net	3,012	(2,727)	16,434	11,815
Interest expense	47,379	34,854	127,529	104,591
Miscellaneous income, net	(4,472)	(4,655)	(10,609)	(15,062)
Restructuring and other charges, net	313	4,255	19,722	1,681
Total expenses	2,041,921	1,746,405	5,888,343	5,129,940
Earnings from continuing operations before income taxes	116,140	94,492	262,523	235,968
Provision for income taxes	26,629	35,452	95,561	86,997
Earnings from continuing operations	89,511	59,040	166,962	148,971
Loss from discontinued operations, net of tax	(760)	(290)	(2,448)	(947)
Net earnings	$ 88,751	$ 58,750	$ 164,514	$ 148,024
Earnings (loss) per common share — Basic
Continuing operations (in dollars per share)	$ 1.70	$ 1.12	$ 3.18	$ 2.82
Discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.05)	(0.02)
Net earnings (in dollars per share)	1.69	1.12	3.13	2.80
Earnings (loss) per common share — Diluted
Continuing operations (in dollars per share)	1.69	1.12	3.15	2.80
Discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.05)	(0.02)
Net earnings (in dollars per share)	1.68	1.11	3.11	2.78
Cash dividends declared per common share (in dollars per share)	$ 0.54	$ 0.46	$ 1.58	$ 1.34
Lease and Rental
Total revenues	$ 895,167	$ 823,197	$ 2,577,444	$ 2,387,801
Cost of services sold	649,407	588,626	1,904,973	1,745,777
Service
Total revenues	1,106,107	888,613	3,106,575	2,595,141
Cost of services sold	945,851	753,838	2,639,137	2,186,316
Fuel Services
Total revenues	156,787	129,087	466,847	382,966
Cost of services sold	$ 153,420	$ 124,562	$ 455,874	$ 372,016

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 88,751	$ 58,750	$ 164,514	$ 148,024
Other comprehensive income:
Changes in currency translation adjustment and other	6,554	27,648	(23,198)	70,991
Amortization of pension and postretirement items	7,163	7,960	20,793	23,741
Income tax expense related to amortization of pension and postretirement items	(1,897)	(2,812)	(4,771)	(8,324)
Amortization of pension and postretirement items, net of tax	5,266	5,148	16,022	15,417
Change in net actuarial loss and prior service cost	0	870	(1,211)	890
Income tax benefit related to change in net actuarial loss and prior service cost	0	(260)	308	(80)
Change in net actuarial loss and prior service cost, net of taxes	0	610	(903)	810
Other comprehensive income (loss), net of taxes	11,820	33,406	(8,079)	87,218
Comprehensive income	$ 100,571	$ 92,156	$ 156,435	$ 235,242

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 60,688	$ 78,348
Receivables, net of allowance of $18,106 and $13,847, respectively	1,156,674	1,010,908
Inventories	78,119	73,543
Prepaid expenses and other current assets	169,175	160,094
Total current assets	1,464,656	1,322,893
Revenue earning equipment, net	9,186,827	8,355,262
Operating property and equipment, net of accumulated depreciation of $1,244,927 and $1,192,377, respectively	826,183	776,704
Goodwill	493,169	395,504
Intangible assets, net of accumulated amortization of $63,016 and $57,420, respectively	61,221	42,930
Direct financing leases and other assets	652,249	570,706
Total assets	12,684,305	11,463,999
Current liabilities:
Short-term debt and current portion of long-term debt	859,530	826,069
Accounts payable	704,613	599,303
Accrued expenses and other current liabilities	618,675	589,603
Total current liabilities	2,182,818	2,014,975
Long-term debt	5,423,580	4,583,582
Other non-current liabilities	828,149	812,642
Deferred income taxes	1,331,360	1,211,129
Total liabilities	9,765,907	8,622,328
Shareholders’ equity:
Preferred stock, no par value per share — authorized, 3,800,917; none outstanding, September 30, 2018 or December 31, 2017	0	0
Common stock, $0.50 par value per share — authorized, 400,000,000; outstanding, September 30, 2018 — 53,088,113 December 31, 2017 — 52,955,314	26,544	26,478
Additional paid-in capital	1,075,412	1,051,017
Retained earnings	2,632,589	2,471,677
Accumulated other comprehensive loss	(816,147)	(707,501)
Total shareholders’ equity	2,918,398	2,841,671
Total liabilities and shareholders’ equity	$ 12,684,305	$ 11,463,999

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets:
Allowance for doubtful accounts, current	$ 18,106	$ 13,847
Operating property and equipment, accumulated depreciation	1,244,927	1,192,377
Finite-Lived intangible assets, accumulated amortization	$ 63,016	$ 57,420
Shareholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	3,800,917	3,800,917
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares outstanding (in shares)	53,088,113	52,955,314

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities from continuing operations:
Net earnings	$ 164,514	$ 148,024
Less: Loss from discontinued operations, net of tax	(2,448)	(947)
Earnings from continuing operations	166,962	148,971
Depreciation expense	1,028,491	932,772
Goodwill impairment charge	15,513	0
Used vehicle sales, net	16,434	11,815
Amortization expense and other non-cash charges, net	21,202	25,152
Non-operating pension costs and share-based compensation expense	22,072	35,509
Deferred income tax expense	103,082	75,820
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(126,848)	(145,090)
Inventories	(4,389)	(985)
Prepaid expenses and other assets	(27,163)	255
Accounts payable	3,754	40,734
Accrued expenses and other non-current liabilities	(6,737)	41,238
Net cash provided by operating activities from continuing operations	1,212,373	1,166,191
Cash flows from financing activities from continuing operations:
Net change in commercial paper borrowings and revolving credit facilities	(113,666)	2,153
Debt proceeds	1,467,528	873,302
Debt repaid	(466,081)	(938,160)
Dividends on common stock	(83,506)	(71,564)
Common stock issued	13,023	10,387
Common stock repurchased	(27,680)	(65,856)
Debt issuance costs and other items	(4,763)	(1,517)
Net cash provided by (used in) financing activities	784,855	(191,255)
Cash flows from investing activities from continuing operations:
Purchases of property and revenue earning equipment	(2,200,006)	(1,312,845)
Sales of revenue earning equipment	279,751	289,432
Sales of operating property and equipment	11,869	12,541
Acquisitions, net of cash acquired	(167,372)	(7,240)
Collections on direct finance leases and other items	57,568	54,227
Net cash used in investing activities	(2,018,190)	(963,885)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	1,464	(5,226)
(Decrease) increase in cash, cash equivalents, and restricted cash from continuing operations	(19,498)	5,825
Decrease in cash, cash equivalents, and restricted cash from discontinued operations	(272)	(1,064)
(Decrease) increase in cash, cash equivalents, and restricted cash	(19,770)	4,761
Cash, cash equivalents, and restricted cash at January 1	83,022	62,639
Cash, cash equivalents, and restricted cash at September 30	$ 63,252	$ 67,400

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
GENERAL	GENERAL Interim Financial Statements The accompanying unaudited Consolidated Condensed Financial Statements include the accounts of Ryder System, Inc. (Ryder) and all entities in which Ryder has a controlling voting interest (subsidiaries) and variable interest entities (VIEs) required to be consolidated in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The accompanying unaudited Consolidated Condensed Financial Statements have been prepared in accordance with the accounting policies described in our 2017 Annual Report on Form 10-K and should be read in conjunction with the Consolidated Financial Statements and notes thereto except for the update to our revenue recognition significant accounting policies discussed below. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement have been included and the disclosures herein are adequate. The operating results for interim periods are unaudited and are not necessarily indicative of the results that can be expected for a full year. Update to Significant Accounting Policies Our significant accounting policies are detailed in "Note 1: Summary of Significant Accounting Policies" within Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2017 . Significant changes to our accounting policies as a result of adopting ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) are discussed below: Revenue Recognition We recognize revenue upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and amounts collected from customers for taxes, such as sales tax, that are remitted to the applicable taxing authorities. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We generally recognize revenue over time as we perform because of continuous transfer of control to our customers. We generate revenue primarily through the lease, rental and maintenance of revenue earning equipment and by providing logistics management and dedicated services. We classify our revenues in the categories of lease and rental, services and fuel. Our lease and rental revenues are accounted for in accordance with existing lease guidance in Leases (Topic 840) and our services and fuel revenues are accounted for in accordance with revenue recognition guidance in Topic 606. Lease and rental Lease and rental includes ChoiceLease and commercial rental revenues from our Fleet Management Solutions (FMS) business segment. We offer a full service lease as well as a lease with more flexible maintenance options under our ChoiceLease product line, which are marketed, priced and managed as bundled lease arrangements, and include equipment, service and financing components. We do not offer a stand-alone unbundled lease of new vehicles. For these reasons, both the lease and service components of our leases are included within lease and rental revenues. ChoiceLease revenue is recognized in accordance with existing lease accounting guidance in Topic 840. Our ChoiceLease arrangements include lease deliverables such as the lease of a vehicle and the executory agreement for the maintenance, insurance, taxes and other services related to the leased vehicles during the lease term. Arrangement consideration is allocated between the lease deliverables and non-lease deliverables based on management's best estimate of the relative fair value of each deliverable. The arrangement consideration is accounted for pursuant to accounting guidance on leases. Our ChoiceLease arrangements provide for a fixed charge billing and a variable charge billing based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Revenue from ChoiceLease and rental agreements is recognized based on the classification of the arrangement, typically as either an operating or direct financing lease (DFL). The majority of our leases and all of our rental arrangements are classified as operating leases and, therefore, we recognize lease and commercial rental revenue on a straight-line basis as it becomes receivable over the term of the lease or rental arrangement. Lease and rental agreements do not usually provide for scheduled rent increases or escalations. However, most lease agreements allow for rate changes based upon changes in the Consumer Price Index (CPI). ChoiceLease and rental agreements also provide for vehicle usage charges based on a time charge and/or a fixed per-mile charge. The fixed time charge, the fixed per-mile charge and the changes in rates attributed to changes in the CPI are considered contingent rentals and are not considered fixed or determinable until the effect of CPI changes is implemented or the equipment usage occurs. Leases not classified as operating leases are generally considered direct financing leases. We recognize revenue for direct financing leases using the effective interest method, which provides a constant periodic rate of return on the outstanding investment on the lease. Cash receipts on impaired direct financing lease receivables are first applied to the direct financing lease receivable and then to any unrecognized income. A direct financing lease receivable is considered impaired, based on current information and events, if it is probable that we will be unable to collect all amounts due according to the contractual terms of the lease. Services Services include SelectCare and other revenues from our FMS business segment and all Dedicated Transportation Solutions (DTS) and Supply Chain Solutions (SCS) revenues. Under our SelectCare arrangements, we provide maintenance and repairs required to keep a vehicle in good operating condition, schedule preventive maintenance inspections and provide access to emergency road service and substitute vehicles. The vast majority of our services are routine services performed on a recurring basis throughout the term of the arrangement. From time to time, we provide non-routine major repair services in order to place a vehicle back in service. Through our SelectCare product line, we provide maintenance services to customers who do not choose to lease vehicles from us. Our maintenance service arrangement provides for a monthly fixed charge and a monthly variable charge based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Most maintenance agreements allow for rate changes based upon changes in the CPI. The fixed per-mile charge and the changes in rates attributed to changes in the CPI are recognized as earned. Costs associated with the activities performed under our maintenance arrangements are primarily comprised of labor, parts and outside work. These costs are expensed as incurred. Non-chargeable maintenance costs have been allocated and reflected within “Cost of services” based on the proportionate maintenance-related labor costs relative to all product lines. The maintenance service is the only performance obligation in SelectCare contracts. This single performance obligation is satisfied at a point in time for transactional maintenance services or over time for contract maintenance agreements. For contract maintenance agreements, the maintenance performance obligation represents a series of distinct maintenance services performed during the contract period as the services provided are substantially the same and have the same pattern of transfer to our customers. Revenue from SelectCare contracts is recognized as maintenance services are rendered over the terms of the related arrangements. We generally account for long-term maintenance contracts as one-year contracts since our maintenance arrangements are generally cancelable, without penalty, after one year. As a practical expedient, we do not disclose information about remaining performance obligations that have original expected durations of one year or less. For maintenance contracts that are longer than one year (i.e., not cancelable without penalty), the revenue we recognize corresponds with our performance completed to date. We measure the progress of transfer based on the costs incurred to provide the service to the customer. The amount that we have the right to invoice for services performed aligns with this measure. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the fixed and variable revenue recognized corresponds to the amount we have the right to invoice for services performed. In our DTS business segment, we combine equipment, maintenance, drivers, administrative services and additional services to provide customers with a single integrated dedicated transportation solution. DTS transportation solutions are customized for our customers based on a transportation analysis to create a logistics design that includes the routing and scheduling of vehicles, the efficient use of vehicle capacity and overall asset utilization. In our SCS business, we offer a broad range of logistics management services designed to optimize the supply chain and address the key business requirements of our customers. SCS operates by industry verticals (Automotive, Technology and Healthcare, Consumer Packaged Goods and Retail, and Industrial) to enable our teams to focus on the specific needs of their customers. Our SCS services are supported by a variety of information technology and engineering solutions. Revenues from DTS and SCS service contracts are recognized as services are rendered in accordance with contract terms, which typically include (1) fixed and variable billing rates, (2) cost-plus billing rates (input method based on actual costs incurred to perform services and a contracted mark-up), or (3) variable only or fixed only billing rates for the services. Our billing structure aligns with the value transferred to our customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Our customers contract us to provide an integrated service of transportation or supply chain logistical services into a single transportation or supply chain solution. Therefore, we typically account for DTS and SCS service contracts as one performance obligation satisfied over time. Less commonly, however, we may promise to provide distinct goods or services within a contract, in which case we separate the contract into more than one performance obligation. If a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We infrequently sell standard products with observable standalone selling prices. More frequently, we sell a customized customer-specific solution, and in these cases we use the expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. Fuel Fuel services include fuel services revenue from our FMS business segment. We provide our FMS customers with access to fuel at our maintenance facilities across the United States and Canada. Fuel services revenue is invoiced to customers at contracted rates, separate from other services being provided in other contracts, or at retail prices. Revenue from fuel services is recognized when fuel is delivered to customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Fuel is largely a pass-through to our customers, for which we realize minimal changes in profitability during periods of steady market fuel prices. However, profitability may be positively or negatively impacted by sudden increases or decreases in market fuel prices during a short period of time as customer pricing for fuel services is established based on trailing market fuel costs. Significant Judgments and Estimates Our contracts with customers often include promises to transfer multiple services to a customer. Determining whether these services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Our DTS and SCS services depend on a significant level of integration and interdependency between the services provided within a contract. Judgment is required to determine whether each service is considered distinct and accounted for separately, or not distinct and accounted for together as a significant integrated service and recognized over time. In making this judgment, we consider whether the services provided, within the context of the contract, represent the transfer of individual services or a combined bundle of services to the customer. This involves evaluating the promises to a customer within a contract to identify the services that need to be performed in order for the promise to be satisfied. Since multiple services that occur at different points in time during a contract may be accounted for as an integrated service, judgment is required to assess the pattern of delivery to our customers. Our judgments on collectibility are initially established when a business relationship with a customer is initiated and is continuously monitored as services are provided. We have a credit rating system based on internally developed standards and ratings provided by third parties. Our credit rating system, along with monitoring for delinquent payments, allows us to make decisions as to whether collectibility is probable. Factors considered during this process include historical payment trends, industry risks, liquidity of the customer, years in business, and judgments, liens or bankruptcies. When collectibility is not considered reasonably assured (typically when a customer is 120 days past due), revenue is not recognized until it is determined that the customer has the ability and intention to pay. Contract Balances We do not have material contract assets as we generally invoice customers as we perform services. Contract receivables are recorded in “Receivables, net” in the Consolidated Condensed Balance Sheets. Payment terms vary by contract type, although terms generally include a requirement of payment within 30 to 90 days. As a practical expedient, we do not assess whether a contract has a significant financing component as the period between the receipt of customer payment and the transfer of service to the customer is less than a year. Our contract liabilities consist of deferred revenue. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts that are refundable. We classify deferred revenue as current as we expect to recognize this revenue within 12 months. Revenue is recognized upon satisfaction of the performance obligation. Costs to Obtain and Fulfill a Contract Our incremental direct costs of obtaining a contract, which primarily consist of sales commissions and start-up costs, are capitalized and amortized over the period of contract performance or a longer period, generally the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. We capitalize incremental direct costs of obtaining a contract that i) relate directly to the contract and ii) are expected to be recovered through revenue generated under the contract. This requires an evaluation of whether the costs are incremental and would not have occurred absent the customer contract. The current and noncurrent portions of incremental costs to obtain and fulfill a contract are included in “Prepaid expenses and other current assets” and “Direct financing leases and other assets” respectively, in the Consolidated Condensed Balance Sheets. Costs are amortized in “Selling, general and administrative expenses” in the Consolidated Condensed Statements of Earnings on a straight-line basis over the expected period of benefit.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Cloud Computing Arrangements In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Topic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. ASU 2018-15 aligns the accounting for costs incurred to implement a CCA that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Entities are permitted to apply either a retrospective or prospective approach to adopt the guidance. We are currently evaluating the impact of the adoption of this update on our consolidated financial position, results of operations, and cash flows. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits - but does not require - companies to reclassify stranded tax effects caused by 2017 tax reform from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they opt to do the reclassification or not. The standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. We adopted this standard using the aggregate portfolio approach and elected to reclassify $101 million of tax benefits resulting from the federal income tax rate change, net of associated state tax effect, from accumulated other comprehensive loss to retained earnings as of the beginning of 2018. This standard did not impact our results of operations or cash flows. Share-Based Compensation In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The amendments in this update are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, with early adoption permitted. We adopted the standard during the first quarter of 2018 and it did not have an impact on our consolidated financial position, results of operations, or cash flows. Business Combinations In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The objective of the update is to add guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses . The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. Companies must use a prospective approach to adopt ASU 2017-01, which was effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We prospectively adopted this standard in the first quarter of 2018. The new standard did not have an impact to the Company's consolidated condensed financial statements during the first, second or third quarters of 2018. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued additional guidance related to the statement of cash flows, which requires companies to explain the change during the period in the total of cash, cash equivalents, and restricted cash or restricted cash equivalents. The standard was effective January 1, 2018, with early adoption permitted. We adopted the standard during the first quarter of 2018. As a result of this update, restricted cash is included within cash and cash equivalents on our statements of consolidated cash flows. As of September 30, 2018 and December 31, 2017 , we had $3 million and $5 million , respectively, in prepaid expenses and other current assets associated with our like-kind exchange program for certain of our U.S. based revenue earning equipment. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets out the principles for the identification, measurement, recognition, presentation and disclosure of leases. The FASB issued subsequent updates to clarify and improve the standard. The standard impacts the accounting for both lessors and lessees. We will adopt the standard effective January 1, 2019, using the modified retrospective transition method. The new standard requires lessors to identify and evaluate the lease and non-lease components in arrangements containing a lease, provides clarification on the scope of non-lease components and provides more guidance on how to identify and separate the components. The adoption of the new lease standard will primarily impact our ChoiceLease product line, which includes a vehicle lease as well as maintenance and other services related to the vehicle. The lease component will be accounted for using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. We will generally continue to recognize revenue for the lease portion of the product line on a straight-line basis. The non-lease component will be accounted for in accordance with the revenue recognition guidance, see below section "Revenue Recognition." Revenue from maintenance services will be recognized consistent with the estimated timing pattern of maintenance costs, which will generally require the deferral of some portion of the customer's payments as a contract liability when received, as maintenance services are typically not performed evenly over the life of a ChoiceLease contract. We are implementing a lessor revenue recognition system, which will both assist in separating the lease and non-lease components, primarily maintenance services, as well as account for the pattern of revenue recognition of the separate lease and non-lease components under our lessor arrangements. Upon adoption, we will record a cumulative-effect adjustment to recognize deferred revenue related to the maintenance services on the opening balance sheet for 2017 and restate all prior periods presented (2017 and 2018). The standard requires lessees to classify leases as either finance or operating leases. This classification will determine whether the related expense will be recognized based on asset amortization and interest on the obligation or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. We are implementing a lease management system to track and record the right-of-use asset and liability for all leases with a term of greater than 12 months. We expect the cumulative-effect adjustment, resulting from the adoption of the lessor requirements, will have a significant impact on our consolidated financial position. We continue to evaluate the impact of adoption of the lessor requirements of this standard, however, such requirements may have a significant impact on our results of operations. We do not expect the adoption of the lessor requirements to have an impact on our cash flows. We do not expect the lessee requirements to have a material impact on our consolidated financial position, results of operations or cash flows. We are in the process of completing additional process changes and updating internal controls to ensure the new reporting and disclosure requirements are met upon adoption. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which together with related, subsequently issued guidance, requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted Topic 606 in the first quarter of 2018 using the full retrospective method, which required us to restate each prior reporting period presented. Upon adoption of Topic 606, we applied the standard’s practical expedient that permits the omission of disclosures of the prior period allocation of the transaction price to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Condensed Statements of Operations and Comprehensive Income results as follows (in millions, except per share amounts): Three months ended September 30, 2017 Nine months ended September 30, 2017 New Revenue New Revenue As Previously Standard As Previously Standard Reported Adjustments As Revised Reported Adjustments As Revised Services revenue (1) $ 896.2 (7.6 ) 888.6 $ 2,619.1 (24.0 ) 2,595.1 Total revenues 1,848.5 (7.6 ) 1,840.9 5,389.9 (24.0 ) 5,365.9 Cost of services (1) 761.5 (7.6 ) 753.8 2,210.3 (24.0 ) 2,186.3 Selling, general and administrative expenses (2) 216.7 (4.4 ) 212.2 620.0 (5.2 ) 614.8 Earnings from continuing operations before income taxes 94.3 0.1 94.5 235.0 1.0 236.0 Provision for income taxes 35.4 — 35.5 86.5 0.5 87.0 Earnings from continuing operations 58.9 0.1 59.0 148.5 0.4 149.0 Net earnings 58.6 0.1 58.8 147.6 0.4 148.0 Comprehensive income 92.0 0.1 92.2 234.8 0.4 235.2 Earnings per common share - Basic Continuing operations $ 1.12 — 1.12 $ 2.81 0.01 2.82 Earnings per common share - Diluted Continuing operations $ 1.11 0.01 1.12 $ 2.79 0.01 2.80 ———————————— (1) Amount includes $8 million and $24 million for the three and nine months ended September 30, 2017 , respectively, related to correction of a prior period error. We historically accounted for certain freight brokerage agreements as a principal and presented revenue and costs related to subcontracted transportation on a gross basis in our financial statements. In adopting Topic 606, we reviewed and evaluated our existing revenue contracts and determined that certain of our freight brokerage agreements should have historically been presented on a net basis as an agent. We evaluated the materiality of this revision, quantitatively and qualitatively. We concluded it was not material to any of our previously issued consolidated financial statements and correction as an out of period adjustment in the current period was not material. (2) Amount includes $4 million for the three and nine months ended September 30, 2017 , related to consulting fees associated with a cost-savings program. The amount was reclassified from "Selling, general and administrative expenses” to "Restructuring and other charges, net" in our Consolidated Condensed Statement of Earnings in order to conform to the current period presentation. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Condensed Balance Sheet as follows (in millions): December 31, 2017 New Revenue As Previously Standard Reported Adjustment As Revised Prepaid expenses and other current assets $ 159.5 0.6 160.1 Total current assets 1,322.3 0.6 1,322.9 Direct financing leases and other assets 559.5 11.2 570.7 Total assets 11,452.2 11.8 11,464.0 Accrued expenses and other current liabilities 587.4 2.2 589.6 Total current liabilities 2,012.8 2.2 2,015.0 Other non-current liabilities 812.1 0.6 812.6 Deferred income taxes 1,208.8 2.4 1,211.1 Total liabilities 8,617.2 5.1 8,622.3 Retained earnings 2,465.0 6.7 2,471.7 Total shareholders' equity 2,835.0 6.7 2,841.7 Total liabilities and shareholders' equity 11,452.2 11.8 11,464.0

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On April 2, 2018, we acquired all of the outstanding equity of MXD Group, Inc. (MXD), an e-commerce fulfillment provider with a national network of facilities, including last mile delivery capabilities, for a purchase price of approximately $ 118 million . The acquisition is included in our SCS business segment. We acquired MXD to build the foundation of e-fulfillment and final mile capabilities for our e-commerce business. During the nine months ended September 30, 2018, we incurred acquisition transaction costs of $ 1 million related to the acquisition that are reflected within "Selling, general and administrative expenses" in our Consolidated Condensed Statements of Earnings. The following table provides the preliminary purchase price allocation to the assets and the liabilities assumed as of the closing date of the MXD acquisition. (In thousands) Assets: Operating property and equipment $ 9,803 Goodwill 81,848 Customer relationships and other intangibles 23,651 Other assets, primarily accounts receivable 31,492 146,794 Liabilities: Accrued liabilities (18,107 ) Deferred income taxes (5,760 ) Other liabilities, primarily accounts payable (4,979 ) Net assets acquired $ 117,948 The excess of the purchase consideration over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized reflects e-commerce growth opportunities, opportunities to cross-sell with our existing customer base and expected cost synergies of combining MXD with our business. The goodwill is not expected to be deductible for income tax purposes. Customer relationship intangible assets are expected to be amortized over 8 years . The results of operations of MXD were not material to our results of operations and therefore pro forma financial information for the acquisition was not presented. On June 15, 2018, we acquired all of the outstanding equity of Metro Truck & Tractor Leasing (Metro), a full service leasing, rental and maintenance company for a purchase price of approximately $ 52 million . The acquisition is included in our FMS business segment. We acquired Metro to expand our presence in the Baltimore, Maryland area. The preliminary purchase accounting for this acquisition resulted in $ 0.4 million of the purchase price allocated to customer relationships and other intangible assets, $20 million allocated to tangible assets net of liabilities assumed and the remaining $ 31 million represents goodwill. The goodwill recognized reflects expected cost synergies and operational improvements in the combined companies and expected growth opportunities with Metro's current customers and prospects in the Maryland market. The goodwill is not expected to be deductible for income tax purposes. Transaction costs related to the acquisition were $ 0.5 million during the nine months ended September 30, 2018 and were reflected within "Selling, general and administrative expenses" in our Consolidated Condensed Statements of Earnings. The assets, liabilities and results of operations of Metro were not material to our consolidated financial position or results of operations and therefore pro forma financial information for the acquisition was not presented. The estimated fair values of assets acquired and liabilities assumed in the acquisitions of both MXD and Metro are preliminary and are based on the information that was available as of the acquisition date. We believe that we have sufficient information to provide a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, we are currently obtaining additional information which will be necessary to finalize our estimate of fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. We expect to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date. The primary areas of the purchase price allocation that are not yet finalized relate to fixed assets, income and non-income taxes, the valuation of intangible assets acquired and residual goodwill, as well as certain contingent liabilities. The preliminary amounts assigned to intangible assets by type for the MXD and Metro acquisitions are based on our preliminary valuation model.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following tables disaggregate our revenue by primary geographical market, major product/service lines, and industry: Primary Geographical Markets Three months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 1,180,337 340,604 508,196 (141,874 ) 1,887,263 Canada 75,571 — 45,587 (5,761 ) 115,397 Europe 80,640 — — — 80,640 Mexico — — 68,705 — 68,705 Singapore — — 6,056 — 6,056 Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Three months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 1,041,610 272,201 384,414 (110,715 ) 1,587,510 Canada 73,755 42,620 (4,892 ) 111,483 Europe 80,432 — — — 80,432 Mexico — — 53,427 — 53,427 Singapore — — 8,045 — 8,045 Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Nine months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,395,291 970,196 1,384,044 (405,159 ) 5,344,372 Canada 225,903 — 136,428 (16,526 ) 345,805 Europe 253,386 — — — 253,386 Mexico — — 189,181 — 189,181 Singapore — — 18,122 — 18,122 Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Nine months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,048,742 811,277 1,106,226 (329,367 ) 4,636,878 Canada 207,577 — 125,116 (13,671 ) 319,022 Europe 235,527 — — — 235,527 Mexico — — 151,169 — 151,169 Singapore — — 23,312 — 23,312 Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908 Major Products/Service Lines Three months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 716,728 — — (64,295 ) 652,433 SelectCare 125,850 — — (10,418 ) 115,432 Commercial rental 257,909 — — (15,175 ) 242,734 Fuel 214,534 — — (57,747 ) 156,787 Other 21,527 — — — 21,527 DTS — 340,604 — — 340,604 SCS — — 628,544 — 628,544 Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Three months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 673,882 — — (57,265 ) 616,617 SelectCare 116,985 — — (8,206 ) 108,779 Commercial rental 216,016 — — (9,436 ) 206,580 Fuel 169,787 — — (40,700 ) 129,087 Other 19,127 — — — 19,127 DTS — 272,201 — — 272,201 SCS — — 488,506 — 488,506 Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Nine months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 2,107,938 — (187,822 ) 1,920,116 SelectCare 372,989 — (29,603 ) 343,386 Commercial rental 694,864 — (37,536 ) 657,328 Fuel 633,571 — (166,724 ) 466,847 Other 65,218 — — — 65,218 DTS — 970,196 — — 970,196 SCS — — 1,727,775 — 1,727,775 Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Nine months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 1,992,656 — — (167,382 ) 1,825,274 SelectCare 347,978 — — (26,732 ) 321,246 Commercial rental 589,362 — — (26,835 ) 562,527 Fuel 505,055 — — (122,089 ) 382,966 Other 56,795 — — — 56,795 DTS — 811,277 — — 811,277 SCS — — 1,405,823 — 1,405,823 Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908 Industry Our SCS business segment includes revenue from the below industries: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Automotive $ 250,499 193,284 $ 690,177 578,087 Technology and healthcare 123,045 99,078 340,528 274,030 CPG and retail 210,965 136,590 544,019 381,967 Industrial and other 44,035 59,554 153,051 171,739 Total revenue $ 628,544 488,506 $ 1,727,775 1,405,823 Contract Balances We record a receivable related to revenue recognized when we have an unconditional right to invoice. There were no material contract assets as of September 30, 2018 or December 31, 2017 . Trade receivables were $1.04 billion and $899 million at September 30, 2018 and December 31, 2017 , respectively. Impairment losses on receivables were not material during the third quarters of 2018 and 2017. Contract liabilities relate to payments received in advance of performance under the contract. Changes in contract liabilities are due to our performance under the contract. The amount of revenue recognized during the nine months ended September 30, 2018 that was included within deferred revenue at January 1, 2018 was $13 million .

REVENUE EARNING EQUIPMENT

REVENUE EARNING EQUIPMENT	9 Months Ended
	Sep. 30, 2018
Revenue Earning Equipment [Abstract]
REVENUE EARNING EQUIPMENT	REVENUE EARNING EQUIPMENT September 30, 2018 December 31, 2017 Cost Accumulated Depreciation Net Book Value (1) Cost Accumulated Depreciation Net Book Value (1) (In thousands) Held for use: ChoiceLease $ 10,559,956 (3,623,781 ) 6,936,175 10,002,981 (3,367,431 ) 6,635,550 Commercial rental 3,163,603 (1,030,908 ) 2,132,695 2,616,706 (1,001,965 ) 1,614,741 Held for sale 413,677 (295,720 ) 117,957 403,229 (298,258 ) 104,971 Total $ 14,137,236 (4,950,409 ) 9,186,827 13,022,916 (4,667,654 ) 8,355,262 ———————————— (1) Revenue earning equipment, net includes vehicles under capital leases of $19 million , less accumulated depreciation of $10 million , at September 30, 2018 , and $29 million , less accumulated depreciation of $14 million , at December 31, 2017 . We lease revenue earning equipment to customers for periods typically ranging from three to seven years for trucks and tractors and up to ten years for trailers. The majority of our leases are classified as operating leases. However, some of our revenue earning equipment leases are classified as direct financing leases and, to a lesser extent, sales-type leases. As of September 30, 2018 and December 31, 2017 , the net investment in direct financing and sales-type leases was $461 million and $447 million , respectively. Our direct financing lease customers operate in a wide variety of industries, and we have no significant customer concentrations in any one industry. We assess credit risk for all of our customers including those who lease equipment under direct financing leases prior to signing a ChoiceLease contract. For those customers who are designated as high risk, we typically require deposits to be paid in advance in order to mitigate our credit risk. Additionally, our receivables are collateralized by the vehicles, which further mitigates our credit risk. As of September 30, 2018 and December 31, 2017 , the amount of direct financing lease receivables past due was not significant, and there were no impaired receivables. Accordingly, we do not believe there is a material risk of default with respect to the direct financing lease receivables. Revenue earning equipment held for sale is stated at the lower of carrying amount or fair value less costs to sell. Losses on vehicles held for sale for which carrying values exceeded fair value are recognized at the time they arrive at our used truck sales centers and are presented within “Used vehicle sales, net” in the Consolidated Condensed Statements of Earnings. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. For a certain population of our revenue earning equipment held for sale, fair value was determined based upon recent market prices obtained from our own sales experience for sales of each class of similar assets and vehicle condition. Expected declines in market prices were also considered when valuing the vehicles held for sale. These vehicles held for sale were classified within Level 3 of the fair value hierarchy. The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Total Losses (2) September 30, December 31, Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 2018 2017 (In thousands) Assets held for sale: Revenue earning equipment (1) : Trucks $ 40,950 33,208 $ 9,713 6,215 $ 28,609 22,942 Tractors 24,897 27,976 1,317 1,127 6,795 18,444 Trailers 1,770 2,100 502 1,871 3,700 5,044 Total assets at fair value $ 67,617 63,284 $ 11,532 9,213 $ 39,104 46,430 ———————————— (1) Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where net book values exceeded fair values and fair value adjustments were recorded. The net book value of assets held for sale that were less than fair value was $50 million and $42 million as of September 30, 2018 and December 31, 2017 , respectively. (2) Total losses represent fair value adjustments for all vehicles reclassified to held for sale throughout the period for which fair value was less than net book value. For the three and nine months ended September 30, 2018 and 2017 , the components of used vehicle sales, net were as follows: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Gains on vehicle sales, net $ (8,520 ) (11,940 ) $ (22,670 ) (34,615 ) Losses from fair value adjustments 11,532 9,213 39,104 46,430 Used vehicle sales, net $ 3,012 (2,727 ) $ 16,434 11,815

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The carrying amount of goodwill attributable to each reportable business segment was as follows: Fleet Dedicated Transportation Solutions Supply Chain Solutions Total (In thousands) Balance at December 31, 2017 Goodwill $ 237,176 40,808 146,741 424,725 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 226,854 40,808 127,842 395,504 Acquisitions (1) 31,209 — 81,848 113,057 Foreign currency translation adjustments 279 — (158 ) 121 Balance at September 30, 2018 Goodwill 268,664 40,808 228,431 537,903 Accumulated impairment losses (25,835 ) — (18,899 ) (44,734 ) $ 242,829 40,808 209,532 493,169 ——————————— (1) See Note 3 , " Acquisitions ," in the Notes to Consolidated Condensed Financial Statements for additional information. On October 1, 2017, we completed our annual goodwill impairment test and determined there was no impairment. However, based on market conditions impacting our FMS Europe reporting unit's financial performance in the first quarter of 2018 , we performed an interim impairment test as of March 31, 2018. Based on our analysis, we determined that all goodwill associated with our FMS Europe reporting unit was impaired and recorded an impairment charge of $16 million . The impairment charge was recorded within “Restructuring and other charges, net” in our Consolidated Condensed Statements of Earnings.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2018
Accrued Liabilities and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	ACCRUED EXPENSES AND OTHER LIABILITIES September 30, 2018 December 31, 2017 Accrued Expenses Non-Current Liabilities Total Accrued Expenses Non-Current Liabilities Total (In thousands) Salaries and wages $ 134,016 — 134,016 $ 135,930 — 135,930 Deferred compensation 5,172 63,194 68,366 4,269 58,411 62,680 Pension benefits 3,855 400,197 404,052 3,863 412,417 416,280 Other postretirement benefits 1,476 18,631 20,107 1,481 19,760 21,241 Other employee benefits 23,034 — 23,034 28,636 3,279 31,915 Insurance obligations (1) 148,736 260,357 409,093 130,848 242,473 373,321 Operating taxes 94,004 — 94,004 95,848 — 95,848 Income taxes 5,883 20,843 26,726 8,550 23,888 32,438 Interest 34,521 — 34,521 30,003 — 30,003 Deposits, mainly from customers 81,200 3,391 84,591 69,903 3,638 73,541 Deferred revenue 21,500 — 21,500 14,004 — 14,004 Restructuring liabilities (2) 4,372 — 4,372 13,074 — 13,074 Other 60,906 61,536 122,442 53,194 48,776 101,970 Total $ 618,675 828,149 1,446,824 $ 589,603 812,642 1,402,245 ———————————— (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) The reduction in restructuring liabilities from December 31, 2017 , principally represents cash payments for employee termination costs. The majority of the balance remaining in restructuring liabilities is expected to be paid by the second quarter of 2019.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Tax Law Changes On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act made broad and complex changes to the U.S. tax code and it will take time to fully interpret the changes. The Act significantly impacted 2018 earnings, and will impact earnings in future periods; however, we have not fully completed the accounting under Income Taxes (Topic 740) for certain of the Act’s new provisions. In accordance with Topic 740, to the extent the accounting for certain income tax effects of the Act was incomplete, but we were able to determine a reasonable estimate of those effects, a provisional amount (“provisional amount”) has been included in our financial statements. Conversely, where a reasonable estimate of the tax effects of the Act cannot be determined, no related provisional amounts have been included in the financial statements. We intend to adjust the tax effects for the relevant items during the allowed 2018 measurement period as we finalize our U.S. income tax return. The Act also requires companies to pay a one-time transition tax on unremitted earnings of certain foreign subsidiaries that had not been subject to U.S. income tax and creates new taxes on certain foreign earnings. We included a $33 million provisional estimate for the transition tax in the December 31, 2017 financial statements. On April 2, 2018, the Internal Revenue Service issued Notice 2018-26, which required us to increase the provisional estimate related to the one-time transition tax. We estimated the additional tax provision to be approximately $29 million . The transition tax estimate will be further adjusted during the fourth quarter of 2018 as we refine our determination of historical earnings and profits and the amount of cash and cash equivalents held in foreign entities. As of September 30, 2018, we have alternative minimum tax (AMT) credit carryforwards of $24 million , which do not expire and can be used to offset regular income taxes in future years. Under the Act, the AMT was repealed and taxpayers may claim a refund of 50% of their remaining AMT credit carryforwards (to the extent the credits exceed regular tax for the year) in 2018, 2019 and 2020. Any AMT credits remaining after 2020 will be refunded in 2021. Pursuant to the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, refundable AMT credits will be subject to sequestration, which is currently 6.2% for refunds after 2019. Furthermore, during the first quarter of 2018, the Internal Revenue Service confirmed that sequestration would apply to refundable AMT credits under the Act. We reclassified our credits to a receivable and recorded a charge of $1 million to account for the sequestration reduction. The reclassification and provision for sequestration are adjustments to provisional estimates of the tax effects of the Act. Uncertain Tax Positions We are subject to tax audits in numerous jurisdictions in the U.S. and foreign countries. Tax audits by their very nature are often complex and can require several years to complete. In the normal course of business, we are subject to challenges from the Internal Revenue Service (IRS) and other tax authorities regarding amounts of taxes due. These challenges may alter the timing or amount of taxable income or deductions, or the allocation of income among tax jurisdictions. As part of our calculation of the provision for income taxes on earnings, we recognize the tax benefit from uncertain tax positions that are at least more likely than not of being sustained upon audit, based on the technical merits of the tax position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Such calculations require management to make estimates and judgments with respect to the ultimate outcome of a tax audit. Actual results could vary materially from these estimates. We reevaluate uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, expiration of statutes of limitations, changes in tax law, effectively settled issues under audit, and new audit activity. Depending on the jurisdiction, such a change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision in the period. The following is a summary of tax years that are no longer subject to examination: Federal — audits of our U.S. federal income tax returns are closed through fiscal year 2008. State — for the majority of states, tax returns are closed through fiscal year 2011 with the exception of states with net operating loss carryforwards that are generally closed through 1997. Foreign — we are no longer subject to foreign tax examinations by tax authorities for tax years before 2010 in Canada and 2013 in Brazil, Mexico and the U.K., which are our major foreign tax jurisdictions. At September 30, 2018 and December 31, 2017 , the total amount of gross unrecognized tax benefits (including interest and penalties, excluding the federal benefit on state issues) was $64 million and $68 million , respectively. During the first quarter of 2018, we determined that reserves for certain uncertain tax positions should have been reversed in prior periods when the statutes of limitations expired. As the amounts were not material to our consolidated financial statements in any individual period, and the cumulative amount is not material to 2018 results, we recognized in total a $3 million benefit in our provision for income taxes related to this reversal in the first quarter. In the third quarter of 2018, we recorded an additional $1 million benefit to our provision. Effective Tax Rate Our effective income tax rates from continuing operations for the third quarter of 2018 and the nine months ended September 30, 2018 , were 22.9% and 36.4% , respectively, compared with 37.5% in the third quarter and 36.9% in the nine months ended September 30, 2017 . The effective income tax rate for the third quarter of 2018 reflects a lower federal tax rate due to the Act and a $2 million tax benefit, recorded on a discrete basis, resulting from a state tax law change. The effective income tax rate for the nine months ended September 30, 2018 , reflects a lower federal tax rate due to the Act offset by an additional tax provision recorded to adjust the provisional estimate for the one-time transition tax.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
DEBT	DEBT Weighted-Average Interest Rate September 30, December 31, Maturities September 30, December 31, (In thousands) Short-term debt and current portion of long-term debt: Short-term debt —% 1.79% $ — 35,509 Current portion of long-term debt 859,530 790,560 Total short-term debt and current portion of long-term debt 859,530 826,069 Long-term debt: U.S. commercial paper (1) 2.30% 1.56% 2023 410,273 570,218 Canadian commercial paper (1) 1.83% —% 2023 94,427 — Global revolving credit facility 3.34% 2.80% 2023 3,250 17,328 Unsecured U.S. notes — Medium-term notes (1) 3.09% 2.73% 2018-2025 4,863,427 4,014,091 Unsecured U.S. obligations 3.21% 2.79% 2019 50,000 50,000 Unsecured foreign obligations 1.61% 1.50% 2020-2021 222,489 230,380 Asset-backed U.S. obligations (2) 2.34% 1.85% 2018-2025 657,819 491,899 Capital lease obligations 3.57% 3.53% 2018-2023 15,019 20,871 Total before fair market value adjustment 6,316,704 5,394,787 Fair market value adjustment on notes subject to hedging (3) (16,126 ) (7,192 ) Debt issuance costs (17,468 ) (13,453 ) 6,283,110 5,374,142 Current portion of long-term debt (859,530 ) (790,560 ) Long-term debt 5,423,580 4,583,582 Total debt $ 6,283,110 5,409,651 ———————————— (1) Amounts are net of unamortized original issue discounts of $7 million and $6 million at September 30, 2018 and December 31, 2017 . (2) Asset-backed U.S. obligations are related to financing transactions involving revenue earning equipment. (3) The notional amount of the executed interest rate swaps designated as fair value hedges was $825 million at September 30, 2018 and December 31, 2017 . We maintain a $1.4 billion global revolving credit facility with a syndicate of twelve lending institutions led by Bank of America N.A., MUFG Bank, Ltd., BNP Paribas, Mizuho Bank, Ltd., Royal Bank of Canada, Lloyds Bank Plc, U.S. Bank N.A. and Wells Fargo Bank, N.A. The credit facility size increased from $1.2 billion to $1.4 billion during the third quarter of 2018. The facility expires in September 2023. The agreement provides for annual facility fees that range from 7.5 basis points to 20 basis points based on Ryder's long-term credit ratings. The annual facility fee is currently 10 basis points , which applies to the total facility size of $1.4 billion . The credit facility is primarily used to finance working capital but can also be used to issue up to $75 million in letters of credit (there were no letters of credit outstanding against the facility at September 30, 2018 ). At our option, the interest rate on borrowings under the credit facility is based on LIBOR, prime, federal funds or local equivalent rates. The credit facility contains no provisions limiting its availability in the event of a material adverse change to Ryder’s business operations; however, the credit facility does contain standard representations and warranties, events of default, cross-default provisions and certain affirmative and negative covenants. In order to maintain availability of funding, we must maintain a ratio of debt to consolidated net worth of less than or equal to 300% . Net worth, as defined in the credit facility, represents shareholders' equity excluding any accumulated other comprehensive income or loss associated with our pension and other postretirement plans. The ratio at September 30, 2018 was 177% . At September 30, 2018 , there was $892 million available under the credit facility. Our global revolving credit facility enables us to refinance short-term obligations on a long-term basis. Short-term commercial paper obligations not required for working capital needs are classified as long-term as we have both the intent and ability to refinance on a long-term basis. In addition, we have the intent and ability to refinance the current portion of certain long-term debt on a long-term basis. At September 30, 2018 , we classified $505 million of short-term commercial paper, $550 million of the current portion of long-term debt and $50 million of short-term debt as long-term debt. At December 31, 2017 , we classified $570 million of short-term commercial paper and $16 million of the current portion of long-term debt as long-term debt. In August 2018, we issued $300 million of unsecured medium-term notes maturing in June 2021. In June 2018, we issued $450 million of unsecured medium-term notes maturing in June 2023. In February 2018, we issued $450 million of unsecured medium-term notes maturing in March 2023. The proceeds from these notes were used to pay off maturing debt and for general corporate purposes. If these notes are downgraded below investment grade following, and as a result of, a change in control, the note holders can require us to repurchase all or a portion of the notes at a purchase price equal to 101% of principal value plus accrued and unpaid interest. In July and June 2018, we received $125 million and $100 million , respectively, from financing transactions backed by a portion of our revenue earning equipment. The proceeds from these transactions were used for general corporate purposes. We have provided end of term guarantees for the residual value of the revenue earning equipment in these transactions. The transaction proceeds, along with the end of term residual value guarantees, have been included within "asset-backed U.S. obligations" in the preceding table. We have a trade receivables purchase and sale program, pursuant to which we sell certain of our domestic trade accounts receivable to a bankruptcy remote, consolidated subsidiary of Ryder, that in turn sells, on a revolving basis, an ownership interest in certain of these accounts receivable to a committed purchaser. The subsidiary is considered a VIE and is consolidated based on our control of the entity’s activities. We use this program to provide additional liquidity to fund our operations, particularly when it is cost effective to do so. The costs under the program may vary based on changes in interest rates. The available proceeds that may be received under the program are limited to $225 million . The program was renewed in June 2018. If no event occurs which causes early termination, the 364 -day program will expire on June 12, 2019. The program contains provisions restricting its availability in the event of a material adverse change to our business operations or the collectibility of the collateralized receivables. Sales of receivables under this program are accounted for as secured borrowings based on our continuing involvement in the transferred assets. No amounts were outstanding under the program at September 30, 2018 or December 31, 2017 . At September 30, 2018 and December 31, 2017 , we had letters of credit and surety bonds outstanding totaling $347 million and $350 million , respectively, which primarily guarantee the payment of insurance claims. The fair value of total debt (excluding capital lease and asset-backed U.S. obligations) at September 30, 2018 and December 31, 2017 was approximately $5.60 billion and $4.95 billion , respectively. For publicly-traded debt, estimates of fair value were based on market prices. For other debt, fair value was estimated based on a model-driven approach using rates currently available to us for debt with similar terms and remaining maturities. The fair value measurements of our publicly-traded debt and other debt were classified within Level 2 of the fair value hierarchy. The carrying amounts reported in the Consolidated Condensed Balance Sheets for “Cash and cash equivalents,” “Receivables, net” and “Accounts payable” approximate fair value because of the immediate or short-term maturities of these financial instruments.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES From time to time, we enter into interest rate derivatives to manage our fixed and variable interest rate exposure and to better match the repricing of debt instruments to that of our portfolio of assets. We assess the risk that changes in interest rates will have either on the fair value of debt obligations or on the amount of future interest payments by monitoring changes in interest rate exposures and by evaluating hedging opportunities. We regularly monitor interest rate risk attributable to both our outstanding or forecasted debt obligations as well as any offsetting hedge positions. This risk management process involves the use of analytical techniques, including cash flow sensitivity analyses, to estimate the expected impact of changes in interest rates on our future cash flows. As of September 30, 2018 , we had interest rate swaps outstanding that are designated as fair value hedges for certain debt obligations, with a total notional value of $825 million and maturities through 2022 . Interest rate swaps are measured at fair value on a recurring basis using Level 2 fair value inputs. The fair value of these interest rate swaps was a liability of $16 million and $7 million as of September 30, 2018 and December 31, 2017 , respectively. The amounts are presented in "Accrued expenses and other current liabilities" and "Other non-current liabilities" in our Consolidated Condensed Balance Sheets. Changes in the fair value of our interest rate swaps were offset by changes in the fair value of the hedged debt instruments. Accordingly, there was no ineffectiveness related to the interest rate swaps. As of September 30, 2018 , we had an interest rate swap outstanding that was designated as a cash flow hedge for a certain debt obligation, with a total notional value of $15 million and maturity through 2021 . The interest rate swap is measured at fair value on a recurring basis using Level 2 fair value inputs. The fair value of this interest rate swap was not material as of September 30, 2018 . The amounts are presented in "Other non-current liabilities" in our Consolidated Condensed Balance Sheets. The effective portion of the change in the fair value of the hedging instrument is reported in other comprehensive income. The amounts accumulated in other comprehensive income are reclassified to earnings when the related interest payments affect earnings. There was no ineffectiveness related to the interest rate swap.

SHARE REPURCHASE PROGRAMS

SHARE REPURCHASE PROGRAMS	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
SHARE REPURCHASE PROGRAMS	SHARE REPURCHASE PROGRAMS In December 2017, our Board of Directors authorized a share repurchase program intended to mitigate the dilutive impact of shares issued under our employee stock plans (the program). Under the program, management is authorized to repurchase up to 1.5 million shares of common stock, the sum of which will not exceed the number of shares issued to employees under the Company’s employee stock plans from December 31, 2017 to December 13, 2019. Share repurchases of common stock are made periodically in open-market transactions and are subject to market conditions, legal requirements and other factors. Management may establish prearranged written plans for the Company under Rule 10b5-1 of the Securities Exchange Act of 1934 as part of the program, which allow for share repurchases during Ryder’s quarterly blackout periods as set forth in the trading plan. During the nine months ended September 30, 2018 and September 30, 2017 , we repurchased approximately 369,000 shares for $28 million and 933,000 shares for $66 million , respectively.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service (Cost)/ Credit (1) Accumulated Other Comprehensive Loss (In thousands) December 31, 2017 $ (140,438 ) (560,153 ) (6,910 ) (707,501 ) Amortization — 15,784 238 16,022 Other current period change (23,198 ) (903 ) — (24,101 ) Adoption of new accounting standard (2) — (98,987 ) (1,580 ) (100,567 ) September 30, 2018 $ (163,636 ) (644,259 ) (8,252 ) (816,147 ) Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service Credit (1) Accumulated Other Comprehensive Loss (In thousands) December 31, 2016 $ (206,610 ) (620,292 ) (7,130 ) (834,032 ) Amortization — 15,252 165 15,417 Other current period change 70,991 810 — 71,801 September 30, 2017 $ (135,619 ) (604,230 ) (6,965 ) (746,814 ) _______________________ (1) These amounts are included in the computation of net pension expense. See Note 15 , " Employee Benefit Plans ," for additional information. (2) Refer to Note 2 , " Recent Accounting Pronouncements " for additional information. The loss from currency translation adjustments in the nine months ended September 30, 2018 of $23 million was primarily due to the weakening of the British Pound and Canadian Dollar against the U.S. Dollar. The gain from currency translation adjustments in the nine months ended September 30, 2017 of $71 million was primarily due to the strengthening of the British Pound and the Canadian Dollar against the U.S. Dollar.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands, except per share amounts) Earnings per share — Basic: Earnings from continuing operations $ 89,511 59,040 $ 166,962 148,971 Less: Earnings allocated to unvested stock (326 ) (223 ) (601 ) (538 ) Earnings from continuing operations available to common shareholders — Basic $ 89,185 58,817 $ 166,361 148,433 Weighted average common shares outstanding — Basic 52,397 52,405 52,391 52,671 Earnings from continuing operations per common share — Basic $ 1.70 1.12 $ 3.18 2.82 Earnings per share — Diluted: Earnings from continuing operations $ 89,511 59,040 $ 166,962 148,971 Less: Earnings allocated to unvested stock (326 ) (223 ) (601 ) (538 ) Earnings from continuing operations available to common shareholders — Diluted $ 89,185 58,817 $ 166,361 148,433 Weighted average common shares outstanding — Basic 52,397 52,405 52,391 52,671 Effect of dilutive equity awards 373 371 349 356 Weighted average common shares outstanding — Diluted 52,770 52,776 52,740 53,027 Earnings from continuing operations per common share — Diluted $ 1.69 1.12 $ 3.15 2.80 Anti-dilutive equity awards not included above 1,197 843 1,230 889

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION PLANS	SHARE-BASED COMPENSATION PLANS Share-based incentive awards are provided to employees under the terms of various share-based compensation plans (collectively, the “Plans”). The Plans are administered by the Compensation Committee of the Board of Directors and principally include at-the-money stock options, unvested stock and cash awards. Unvested stock awards include grants of market-based, performance-based and time-vested restricted stock rights. Under the terms of our Plans, dividends are not paid unless the stock award vests. Upon vesting, the amount of the dividends paid is equal to the aggregate dividends declared on common shares during the period from the grant date of the award until the date the shares underlying the award are delivered. The following table provides information on share-based compensation expense and income tax benefits recognized during the periods: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Stock option and stock purchase plans $ 1,917 1,953 $ 5,688 5,811 Unvested stock 5,262 2,618 13,143 8,823 Share-based compensation expense 7,179 4,571 18,831 14,634 Income tax benefit (1,388 ) (1,608 ) (3,617 ) (5,090 ) Share-based compensation expense, net of tax $ 5,791 2,963 $ 15,214 9,544 The compensation expense associated with cash awards was not material for the three and nine months ended September 30, 2018 and 2017. Total unrecognized pre-tax compensation expense related to all share-based compensation arrangements at September 30, 2018 , was $35 million and is expected to be recognized over a weighted-average period of 1.9 years. The following table is a summary of the awards granted under the Plans during the periods presented: Nine months ended September 30, 2018 2017 (Shares in thousands) Stock options 347 465 Market-based restricted stock rights — 46 Performance-based restricted stock rights 200 79 Time-vested restricted stock rights 167 110 Total 714 700

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Components of net pension expense were as follows: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Pension Benefits Company-administered plans: Service cost $ 3,074 3,165 $ 9,370 9,431 Interest cost 19,425 21,609 58,275 64,524 Expected return on plan assets (25,187 ) (22,822 ) (76,086 ) (68,012 ) Amortization of: Net actuarial loss 7,130 8,336 21,416 24,863 Prior service cost 145 133 434 399 4,587 10,421 13,409 31,205 Union-administered plans 2,469 7,873 7,339 12,996 Net pension expense $ 7,056 18,294 $ 20,748 44,201 Company-administered plans: U.S. $ 7,011 10,929 $ 21,033 32,787 Non-U.S. (2,424 ) (508 ) (7,624 ) (1,582 ) 4,587 10,421 13,409 31,205 Union-administered plans 2,469 7,873 7,339 12,996 Net pension expense $ 7,056 18,294 $ 20,748 44,201 During the nine months ended September 30, 2018 , we contributed $ 23 million to our pension plans. In 2018 , the expected total contributions to our pension plans are approximately $27 million . We also maintain other postretirement benefit plans that are not reflected in the above table. The amount of postretirement benefit expense was not material for the three and nine months ended September 30, 2018 .

OTHER ITEMS IMPACTING COMPARABI

OTHER ITEMS IMPACTING COMPARABILITY	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
OTHER ITEMS IMPACTING COMPARABILITY	OTHER ITEMS IMPACTING COMPARABILITY Our primary measure of segment performance as shown in Note 19 , " Segment Reporting ," excludes certain items we do not believe are representative of the ongoing operations of the segment. Excluding these items from our segment measure of performance allows for better year over year comparison: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Restructuring and other, net $ 313 4,255 $ 4,209 1,681 Goodwill impairment (1) — — 15,513 — Pension settlement charge — 5,454 — 5,454 Operating tax adjustment — — — 2,205 Restructuring and other items, net $ 313 9,709 $ 19,722 9,340 ———————————— (1) Refer to Note 6 , " Goodwill ," for additional information. During the three and nine months ended September 30, 2018 and 2017, the below items were recorded in "Restructuring and other, net": • In the second quarter of 2018, we committed to a plan to shutdown our Singapore business operations and recognized employee termination costs of $0.6 million in third quarter of 2018 and $3 million in the nine months ended September 30, 2018 . We expect to incur additional restructuring charges related to exiting Singapore business operations, but we do not expect these charges to be material to our financial statements. • We recorded restructuring credits of $2 million in the third quarter of 2018 and $4 million in the nine months ended September 30, 2018 , related to gains on the sale of certain U.K. facilities that were closed as part of our December 2017 restructuring activities. • During the third quarter and in the nine months ended September 30, 2018 , we recorded acquisition transaction costs of $0.4 million and $3 million , respectively, related to the acquisitions of MXD and Metro. • During the third quarter and in the nine months ended September 30, 2018, we recorded $1 million and $3 million , respectively, of restructuring and other, net primarily related to professional fees and adjustments to the restructuring accrual recorded as of December 31, 2017. • During the third quarter of 2017, we incurred charges of $4 million related to professional fees associated with a cost-savings program. During the second quarter of 2017, we realized restructuring credits of $3 million related to the gains on sale of certain U.K. facilities that were closed as part of our December 2016 restructuring activities. During the third quarter of 2017, we recorded a pension settlement charge of $5 million for the exit from a U.S. multi-employer pension plan. This charge was recorded within "Selling, general and administrative expenses” in our Consolidated Condensed Statement of Earnings and is included in the Union-administered plans expense. During the first quarter of 2017, we determined that certain operating tax expenses related to prior periods had not been recognized in prior period earnings. We recorded a one-time charge of $2 million within “Selling, general and administrative expenses” in our Consolidated Condensed Statement of Earnings as the impact of the adjustment was not material to our consolidated condensed financial statements in any individual prior period, and the cumulative amount was not material to the first quarter 2017 results.

OTHER MATTERS

OTHER MATTERS	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
OTHER MATTERS	OTHER MATTERS We are a party to various claims, complaints and proceedings arising in the ordinary course of our continuing business operations including, but not limited to, those relating to commercial and employment claims, environmental matters, risk management matters (e.g., vehicle liability, workers’ compensation, etc.) and administrative assessments primarily associated with operating taxes. We have established loss provisions for matters in which losses are probable and can be reasonably estimated. We believe that the resolution of these claims, complaints and legal proceedings will not have a material effect on our consolidated condensed financial statements. Our estimates regarding potential losses and materiality are based on our judgment and assessment of the claims utilizing currently available information. Although we will continue to reassess our reserves and estimates based on future developments, our objective assessment of the legal merits of such claims may not always be predictive of the outcome and actual results may vary from our current estimates.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information was as follows: Nine months ended September 30, 2018 2017 (In thousands) Interest paid $ 116,506 99,889 Income taxes paid 20,181 10,596 Changes in accounts payable related to purchases of revenue earning equipment (96,161 ) (63,184 ) Operating and revenue earning equipment acquired under capital leases 2,134 6,209 Changes in restricted cash (2,110 ) (1,694 ) The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Condensed Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Condensed Statements of Cash Flows. September 30, 2018 December 31, 2017 (In thousands) Cash and cash equivalents $ 60,688 $ 78,348 Restricted cash included in prepaid expenses and other current assets 2,564 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 63,252 $ 83,022 Amounts included in restricted cash represent the proceeds from the sale of eligible vehicles under our like-kind exchange program for certain of our U.S. - based revenue earning equipment. Restricted cash is used for the acquisition of replacement vehicles and other specified applications.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Our operating segments are aggregated into reportable business segments based upon similar economic characteristics, products, services, customers and delivery methods. We report our financial performance in three business segments: (1) FMS, which provides leasing, commercial rental and maintenance of trucks, tractors and trailers to customers principally in the U.S., Canada and the U.K.; (2) DTS, which provides vehicles and drivers as part of a dedicated transportation solution in the U.S.; and (3) SCS, which provides comprehensive supply chain solutions including distribution and transportation services in North America and Singapore. Dedicated transportation services provided as part of an integrated, multi-service, supply chain solution to SCS customers are reported in the SCS business segment. Our primary measurement of segment financial performance, defined as segment “Earnings Before Tax” (EBT) from continuing operations, includes an allocation of Central Support Services (CSS) and excludes non-operating pension costs and the restructuring and other items, net discussed in Note 16 , " Other Items Impacting Comparability ." CSS represents those costs incurred to support all business segments, including human resources, finance and procurement, corporate services, public affairs, information technology, health and safety, legal, marketing and corporate communications. The objective of the EBT measurement is to provide clarity on the profitability of each segment and, ultimately, to hold leadership of each segment accountable for their allocated share of CSS costs. Certain costs are considered to be overhead not attributable to any segment and remain unallocated in CSS. Included among the unallocated overhead remaining within CSS are the costs for investor relations, public affairs and certain executive compensation. CSS costs attributable to the business segments are predominantly allocated to FMS, DTS and SCS as follows: • Finance, corporate services, and health and safety — allocated based upon estimated and planned resource utilization; • Human resources — individual costs within this category are allocated under various methods, including allocation based on estimated utilization and number of personnel supported; • Information technology — principally allocated based upon utilization-related metrics such as number of users or minutes of CPU time. Customer-related project costs and expenses are allocated to the business segment responsible for the project; and • Other — represents legal and other centralized costs and expenses including certain share-based incentive compensation costs. Expenses, where allocated, are based primarily on the number of personnel supported. Our FMS segment leases revenue earning equipment and provides fuel, maintenance and other ancillary services to the DTS and SCS segments. Inter-segment revenue and EBT are accounted for at rates similar to those executed with third parties. EBT related to inter-segment equipment and services billed to DTS and SCS customers (equipment contribution) are included in both FMS and the segment that served the customer and then eliminated (presented as “Eliminations”). The following tables set forth financial information for each of our segments and provide a reconciliation between segment EBT and earnings from continuing operations before income taxes for the three and nine months ended September 30, 2018 and 2017 . Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Prior period segment EBT amounts have been reclassified to conform to the current period presentation. These reclassifications were immaterial to the financial statements taken as a whole. FMS DTS SCS Eliminations Total (In thousands) For the three months ended September 30, 2018 Revenue from external customers $ 1,188,913 340,604 628,544 — 2,158,061 Inter-segment revenue 147,635 — — (147,635 ) — Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Segment EBT $ 95,153 13,929 37,365 (16,063 ) 130,384 Unallocated CSS (12,770 ) Non-operating pension costs (1) (1,161 ) Restructuring and other items, net (2) (313 ) Earnings from continuing operations before income taxes $ 116,140 Segment capital expenditures paid (3) $ 769,426 473 2,652 — 772,551 Unallocated CSS capital expenditures paid 6,154 Capital expenditures paid $ 778,705 For the three months ended September 30, 2017 Revenue from external customers $ 1,080,190 272,201 488,506 — 1,840,897 Inter-segment revenue 115,607 — — (115,607 ) — Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Segment EBT $ 100,803 13,734 22,093 (14,464 ) 122,166 Unallocated CSS (11,007 ) Non-operating pension costs (1) (6,958 ) Restructuring and other items, net (2) (9,709 ) Earnings from continuing operations before income taxes $ 94,492 Segment capital expenditures paid (3) $ 431,093 1,878 16,705 — 449,676 Unallocated CSS capital expenditures paid 7,917 Capital expenditures paid $ 457,593 ———————————— (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest costs and expected return on plan assets. (2) See Note 16 , " Other Items Impacting Comparability ," for additional information. (3) Excludes revenue earning equipment acquired under capital leases. FMS DTS SCS Eliminations Total (In thousands) For the nine months ended September 30, 2018 Revenue from external customers $ 3,452,895 970,196 1,727,775 — 6,150,866 Inter-segment revenue 421,685 — — (421,685 ) — Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Segment EBT 217,851 45,433 101,283 (44,644 ) 319,923 Unallocated CSS (34,437 ) Non-operating pension costs (1) (3,241 ) Restructuring and other items, net (2) (19,722 ) Earnings from continuing operations before income taxes $ 262,523 Segment capital expenditures paid (3)(4) $ 2,150,490 1,115 31,268 — 2,182,873 Unallocated CSS capital expenditures paid 17,133 Capital expenditures paid $ 2,200,006 For the nine months ended September 30, 2017 Revenue from external customers $ 3,148,808 811,277 1,405,823 — 5,365,908 Inter-segment revenue 343,038 — — (343,038 ) — Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908 Segment EBT $ 221,200 39,834 76,188 (38,053 ) 299,169 Unallocated CSS (32,986 ) Non-operating pension costs (1) (20,875 ) Restructuring and other items, net (2) (9,340 ) Earnings from continuing operations before income taxes $ 235,968 Segment capital expenditures paid (3) $ 1,255,789 2,989 34,839 — 1,293,617 Unallocated CSS capital expenditures paid 19,228 Capital expenditures paid $ 1,312,845 ———————————— (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest costs and expected return on plan assets. (2) See Note 16 , Other Items Impacting Comparability ," for additional information. (3) Excludes revenue earning equipment acquired under capital leases. (4) Excludes acquisition payments of $35 million during the nine months ended September 30, 2018.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Cloud Computing Arrangements In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Topic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. ASU 2018-15 aligns the accounting for costs incurred to implement a CCA that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Entities are permitted to apply either a retrospective or prospective approach to adopt the guidance. We are currently evaluating the impact of the adoption of this update on our consolidated financial position, results of operations, and cash flows. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits - but does not require - companies to reclassify stranded tax effects caused by 2017 tax reform from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they opt to do the reclassification or not. The standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. We adopted this standard using the aggregate portfolio approach and elected to reclassify $101 million of tax benefits resulting from the federal income tax rate change, net of associated state tax effect, from accumulated other comprehensive loss to retained earnings as of the beginning of 2018. This standard did not impact our results of operations or cash flows. Share-Based Compensation In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The amendments in this update are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, with early adoption permitted. We adopted the standard during the first quarter of 2018 and it did not have an impact on our consolidated financial position, results of operations, or cash flows. Business Combinations In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The objective of the update is to add guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses . The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. Companies must use a prospective approach to adopt ASU 2017-01, which was effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We prospectively adopted this standard in the first quarter of 2018. The new standard did not have an impact to the Company's consolidated condensed financial statements during the first, second or third quarters of 2018. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued additional guidance related to the statement of cash flows, which requires companies to explain the change during the period in the total of cash, cash equivalents, and restricted cash or restricted cash equivalents. The standard was effective January 1, 2018, with early adoption permitted. We adopted the standard during the first quarter of 2018. As a result of this update, restricted cash is included within cash and cash equivalents on our statements of consolidated cash flows. As of September 30, 2018 and December 31, 2017 , we had $3 million and $5 million , respectively, in prepaid expenses and other current assets associated with our like-kind exchange program for certain of our U.S. based revenue earning equipment. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets out the principles for the identification, measurement, recognition, presentation and disclosure of leases. The FASB issued subsequent updates to clarify and improve the standard. The standard impacts the accounting for both lessors and lessees. We will adopt the standard effective January 1, 2019, using the modified retrospective transition method. The new standard requires lessors to identify and evaluate the lease and non-lease components in arrangements containing a lease, provides clarification on the scope of non-lease components and provides more guidance on how to identify and separate the components. The adoption of the new lease standard will primarily impact our ChoiceLease product line, which includes a vehicle lease as well as maintenance and other services related to the vehicle. The lease component will be accounted for using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. We will generally continue to recognize revenue for the lease portion of the product line on a straight-line basis. The non-lease component will be accounted for in accordance with the revenue recognition guidance, see below section "Revenue Recognition." Revenue from maintenance services will be recognized consistent with the estimated timing pattern of maintenance costs, which will generally require the deferral of some portion of the customer's payments as a contract liability when received, as maintenance services are typically not performed evenly over the life of a ChoiceLease contract. We are implementing a lessor revenue recognition system, which will both assist in separating the lease and non-lease components, primarily maintenance services, as well as account for the pattern of revenue recognition of the separate lease and non-lease components under our lessor arrangements. Upon adoption, we will record a cumulative-effect adjustment to recognize deferred revenue related to the maintenance services on the opening balance sheet for 2017 and restate all prior periods presented (2017 and 2018). The standard requires lessees to classify leases as either finance or operating leases. This classification will determine whether the related expense will be recognized based on asset amortization and interest on the obligation or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. We are implementing a lease management system to track and record the right-of-use asset and liability for all leases with a term of greater than 12 months. We expect the cumulative-effect adjustment, resulting from the adoption of the lessor requirements, will have a significant impact on our consolidated financial position. We continue to evaluate the impact of adoption of the lessor requirements of this standard, however, such requirements may have a significant impact on our results of operations. We do not expect the adoption of the lessor requirements to have an impact on our cash flows. We do not expect the lessee requirements to have a material impact on our consolidated financial position, results of operations or cash flows. We are in the process of completing additional process changes and updating internal controls to ensure the new reporting and disclosure requirements are met upon adoption.
Revenue Recognition	Update to Significant Accounting Policies Our significant accounting policies are detailed in "Note 1: Summary of Significant Accounting Policies" within Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2017 . Significant changes to our accounting policies as a result of adopting ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) are discussed below: Revenue Recognition We recognize revenue upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and amounts collected from customers for taxes, such as sales tax, that are remitted to the applicable taxing authorities. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We generally recognize revenue over time as we perform because of continuous transfer of control to our customers. We generate revenue primarily through the lease, rental and maintenance of revenue earning equipment and by providing logistics management and dedicated services. We classify our revenues in the categories of lease and rental, services and fuel. Our lease and rental revenues are accounted for in accordance with existing lease guidance in Leases (Topic 840) and our services and fuel revenues are accounted for in accordance with revenue recognition guidance in Topic 606. Lease and rental Lease and rental includes ChoiceLease and commercial rental revenues from our Fleet Management Solutions (FMS) business segment. We offer a full service lease as well as a lease with more flexible maintenance options under our ChoiceLease product line, which are marketed, priced and managed as bundled lease arrangements, and include equipment, service and financing components. We do not offer a stand-alone unbundled lease of new vehicles. For these reasons, both the lease and service components of our leases are included within lease and rental revenues. ChoiceLease revenue is recognized in accordance with existing lease accounting guidance in Topic 840. Our ChoiceLease arrangements include lease deliverables such as the lease of a vehicle and the executory agreement for the maintenance, insurance, taxes and other services related to the leased vehicles during the lease term. Arrangement consideration is allocated between the lease deliverables and non-lease deliverables based on management's best estimate of the relative fair value of each deliverable. The arrangement consideration is accounted for pursuant to accounting guidance on leases. Our ChoiceLease arrangements provide for a fixed charge billing and a variable charge billing based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Revenue from ChoiceLease and rental agreements is recognized based on the classification of the arrangement, typically as either an operating or direct financing lease (DFL). The majority of our leases and all of our rental arrangements are classified as operating leases and, therefore, we recognize lease and commercial rental revenue on a straight-line basis as it becomes receivable over the term of the lease or rental arrangement. Lease and rental agreements do not usually provide for scheduled rent increases or escalations. However, most lease agreements allow for rate changes based upon changes in the Consumer Price Index (CPI). ChoiceLease and rental agreements also provide for vehicle usage charges based on a time charge and/or a fixed per-mile charge. The fixed time charge, the fixed per-mile charge and the changes in rates attributed to changes in the CPI are considered contingent rentals and are not considered fixed or determinable until the effect of CPI changes is implemented or the equipment usage occurs. Leases not classified as operating leases are generally considered direct financing leases. We recognize revenue for direct financing leases using the effective interest method, which provides a constant periodic rate of return on the outstanding investment on the lease. Cash receipts on impaired direct financing lease receivables are first applied to the direct financing lease receivable and then to any unrecognized income. A direct financing lease receivable is considered impaired, based on current information and events, if it is probable that we will be unable to collect all amounts due according to the contractual terms of the lease. Services Services include SelectCare and other revenues from our FMS business segment and all Dedicated Transportation Solutions (DTS) and Supply Chain Solutions (SCS) revenues. Under our SelectCare arrangements, we provide maintenance and repairs required to keep a vehicle in good operating condition, schedule preventive maintenance inspections and provide access to emergency road service and substitute vehicles. The vast majority of our services are routine services performed on a recurring basis throughout the term of the arrangement. From time to time, we provide non-routine major repair services in order to place a vehicle back in service. Through our SelectCare product line, we provide maintenance services to customers who do not choose to lease vehicles from us. Our maintenance service arrangement provides for a monthly fixed charge and a monthly variable charge based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Most maintenance agreements allow for rate changes based upon changes in the CPI. The fixed per-mile charge and the changes in rates attributed to changes in the CPI are recognized as earned. Costs associated with the activities performed under our maintenance arrangements are primarily comprised of labor, parts and outside work. These costs are expensed as incurred. Non-chargeable maintenance costs have been allocated and reflected within “Cost of services” based on the proportionate maintenance-related labor costs relative to all product lines. The maintenance service is the only performance obligation in SelectCare contracts. This single performance obligation is satisfied at a point in time for transactional maintenance services or over time for contract maintenance agreements. For contract maintenance agreements, the maintenance performance obligation represents a series of distinct maintenance services performed during the contract period as the services provided are substantially the same and have the same pattern of transfer to our customers. Revenue from SelectCare contracts is recognized as maintenance services are rendered over the terms of the related arrangements. We generally account for long-term maintenance contracts as one-year contracts since our maintenance arrangements are generally cancelable, without penalty, after one year. As a practical expedient, we do not disclose information about remaining performance obligations that have original expected durations of one year or less. For maintenance contracts that are longer than one year (i.e., not cancelable without penalty), the revenue we recognize corresponds with our performance completed to date. We measure the progress of transfer based on the costs incurred to provide the service to the customer. The amount that we have the right to invoice for services performed aligns with this measure. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the fixed and variable revenue recognized corresponds to the amount we have the right to invoice for services performed. In our DTS business segment, we combine equipment, maintenance, drivers, administrative services and additional services to provide customers with a single integrated dedicated transportation solution. DTS transportation solutions are customized for our customers based on a transportation analysis to create a logistics design that includes the routing and scheduling of vehicles, the efficient use of vehicle capacity and overall asset utilization. In our SCS business, we offer a broad range of logistics management services designed to optimize the supply chain and address the key business requirements of our customers. SCS operates by industry verticals (Automotive, Technology and Healthcare, Consumer Packaged Goods and Retail, and Industrial) to enable our teams to focus on the specific needs of their customers. Our SCS services are supported by a variety of information technology and engineering solutions. Revenues from DTS and SCS service contracts are recognized as services are rendered in accordance with contract terms, which typically include (1) fixed and variable billing rates, (2) cost-plus billing rates (input method based on actual costs incurred to perform services and a contracted mark-up), or (3) variable only or fixed only billing rates for the services. Our billing structure aligns with the value transferred to our customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Our customers contract us to provide an integrated service of transportation or supply chain logistical services into a single transportation or supply chain solution. Therefore, we typically account for DTS and SCS service contracts as one performance obligation satisfied over time. Less commonly, however, we may promise to provide distinct goods or services within a contract, in which case we separate the contract into more than one performance obligation. If a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We infrequently sell standard products with observable standalone selling prices. More frequently, we sell a customized customer-specific solution, and in these cases we use the expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. Fuel Fuel services include fuel services revenue from our FMS business segment. We provide our FMS customers with access to fuel at our maintenance facilities across the United States and Canada. Fuel services revenue is invoiced to customers at contracted rates, separate from other services being provided in other contracts, or at retail prices. Revenue from fuel services is recognized when fuel is delivered to customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Fuel is largely a pass-through to our customers, for which we realize minimal changes in profitability during periods of steady market fuel prices. However, profitability may be positively or negatively impacted by sudden increases or decreases in market fuel prices during a short period of time as customer pricing for fuel services is established based on trailing market fuel costs. Significant Judgments and Estimates Our contracts with customers often include promises to transfer multiple services to a customer. Determining whether these services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Our DTS and SCS services depend on a significant level of integration and interdependency between the services provided within a contract. Judgment is required to determine whether each service is considered distinct and accounted for separately, or not distinct and accounted for together as a significant integrated service and recognized over time. In making this judgment, we consider whether the services provided, within the context of the contract, represent the transfer of individual services or a combined bundle of services to the customer. This involves evaluating the promises to a customer within a contract to identify the services that need to be performed in order for the promise to be satisfied. Since multiple services that occur at different points in time during a contract may be accounted for as an integrated service, judgment is required to assess the pattern of delivery to our customers. Our judgments on collectibility are initially established when a business relationship with a customer is initiated and is continuously monitored as services are provided. We have a credit rating system based on internally developed standards and ratings provided by third parties. Our credit rating system, along with monitoring for delinquent payments, allows us to make decisions as to whether collectibility is probable. Factors considered during this process include historical payment trends, industry risks, liquidity of the customer, years in business, and judgments, liens or bankruptcies. When collectibility is not considered reasonably assured (typically when a customer is 120 days past due), revenue is not recognized until it is determined that the customer has the ability and intention to pay. Contract Balances We do not have material contract assets as we generally invoice customers as we perform services. Contract receivables are recorded in “Receivables, net” in the Consolidated Condensed Balance Sheets. Payment terms vary by contract type, although terms generally include a requirement of payment within 30 to 90 days. As a practical expedient, we do not assess whether a contract has a significant financing component as the period between the receipt of customer payment and the transfer of service to the customer is less than a year. Our contract liabilities consist of deferred revenue. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts that are refundable. We classify deferred revenue as current as we expect to recognize this revenue within 12 months. Revenue is recognized upon satisfaction of the performance obligation. Costs to Obtain and Fulfill a Contract Our incremental direct costs of obtaining a contract, which primarily consist of sales commissions and start-up costs, are capitalized and amortized over the period of contract performance or a longer period, generally the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. We capitalize incremental direct costs of obtaining a contract that i) relate directly to the contract and ii) are expected to be recovered through revenue generated under the contract. This requires an evaluation of whether the costs are incremental and would not have occurred absent the customer contract. The current and noncurrent portions of incremental costs to obtain and fulfill a contract are included in “Prepaid expenses and other current assets” and “Direct financing leases and other assets” respectively, in the Consolidated Condensed Balance Sheets. Costs are amortized in “Selling, general and administrative expenses” in the Consolidated Condensed Statements of Earnings on a straight-line basis over the expected period of benefit. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which together with related, subsequently issued guidance, requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted Topic 606 in the first quarter of 2018 using the full retrospective method, which required us to restate each prior reporting period presented. Upon adoption of Topic 606, we applied the standard’s practical expedient that permits the omission of disclosures of the prior period allocation of the transaction price to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.

RECENT ACCOUNTING PRONOUNCEME_3

RECENT ACCOUNTING PRONOUNCEMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of the new revenue recognition standard impacted our previously reported Consolidated Condensed Statements of Operations and Comprehensive Income results as follows (in millions, except per share amounts): Three months ended September 30, 2017 Nine months ended September 30, 2017 New Revenue New Revenue As Previously Standard As Previously Standard Reported Adjustments As Revised Reported Adjustments As Revised Services revenue (1) $ 896.2 (7.6 ) 888.6 $ 2,619.1 (24.0 ) 2,595.1 Total revenues 1,848.5 (7.6 ) 1,840.9 5,389.9 (24.0 ) 5,365.9 Cost of services (1) 761.5 (7.6 ) 753.8 2,210.3 (24.0 ) 2,186.3 Selling, general and administrative expenses (2) 216.7 (4.4 ) 212.2 620.0 (5.2 ) 614.8 Earnings from continuing operations before income taxes 94.3 0.1 94.5 235.0 1.0 236.0 Provision for income taxes 35.4 — 35.5 86.5 0.5 87.0 Earnings from continuing operations 58.9 0.1 59.0 148.5 0.4 149.0 Net earnings 58.6 0.1 58.8 147.6 0.4 148.0 Comprehensive income 92.0 0.1 92.2 234.8 0.4 235.2 Earnings per common share - Basic Continuing operations $ 1.12 — 1.12 $ 2.81 0.01 2.82 Earnings per common share - Diluted Continuing operations $ 1.11 0.01 1.12 $ 2.79 0.01 2.80 ———————————— (1) Amount includes $8 million and $24 million for the three and nine months ended September 30, 2017 , respectively, related to correction of a prior period error. We historically accounted for certain freight brokerage agreements as a principal and presented revenue and costs related to subcontracted transportation on a gross basis in our financial statements. In adopting Topic 606, we reviewed and evaluated our existing revenue contracts and determined that certain of our freight brokerage agreements should have historically been presented on a net basis as an agent. We evaluated the materiality of this revision, quantitatively and qualitatively. We concluded it was not material to any of our previously issued consolidated financial statements and correction as an out of period adjustment in the current period was not material. (2) Amount includes $4 million for the three and nine months ended September 30, 2017 , related to consulting fees associated with a cost-savings program. The amount was reclassified from "Selling, general and administrative expenses” to "Restructuring and other charges, net" in our Consolidated Condensed Statement of Earnings in order to conform to the current period presentation. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Condensed Balance Sheet as follows (in millions): December 31, 2017 New Revenue As Previously Standard Reported Adjustment As Revised Prepaid expenses and other current assets $ 159.5 0.6 160.1 Total current assets 1,322.3 0.6 1,322.9 Direct financing leases and other assets 559.5 11.2 570.7 Total assets 11,452.2 11.8 11,464.0 Accrued expenses and other current liabilities 587.4 2.2 589.6 Total current liabilities 2,012.8 2.2 2,015.0 Other non-current liabilities 812.1 0.6 812.6 Deferred income taxes 1,208.8 2.4 1,211.1 Total liabilities 8,617.2 5.1 8,622.3 Retained earnings 2,465.0 6.7 2,471.7 Total shareholders' equity 2,835.0 6.7 2,841.7 Total liabilities and shareholders' equity 11,452.2 11.8 11,464.0

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table provides the preliminary purchase price allocation to the assets and the liabilities assumed as of the closing date of the MXD acquisition. (In thousands) Assets: Operating property and equipment $ 9,803 Goodwill 81,848 Customer relationships and other intangibles 23,651 Other assets, primarily accounts receivable 31,492 146,794 Liabilities: Accrued liabilities (18,107 ) Deferred income taxes (5,760 ) Other liabilities, primarily accounts payable (4,979 ) Net assets acquired $ 117,948

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following tables disaggregate our revenue by primary geographical market, major product/service lines, and industry: Primary Geographical Markets Three months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 1,180,337 340,604 508,196 (141,874 ) 1,887,263 Canada 75,571 — 45,587 (5,761 ) 115,397 Europe 80,640 — — — 80,640 Mexico — — 68,705 — 68,705 Singapore — — 6,056 — 6,056 Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Three months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 1,041,610 272,201 384,414 (110,715 ) 1,587,510 Canada 73,755 42,620 (4,892 ) 111,483 Europe 80,432 — — — 80,432 Mexico — — 53,427 — 53,427 Singapore — — 8,045 — 8,045 Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Nine months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,395,291 970,196 1,384,044 (405,159 ) 5,344,372 Canada 225,903 — 136,428 (16,526 ) 345,805 Europe 253,386 — — — 253,386 Mexico — — 189,181 — 189,181 Singapore — — 18,122 — 18,122 Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Nine months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,048,742 811,277 1,106,226 (329,367 ) 4,636,878 Canada 207,577 — 125,116 (13,671 ) 319,022 Europe 235,527 — — — 235,527 Mexico — — 151,169 — 151,169 Singapore — — 23,312 — 23,312 Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908
Disaggregation of Revenue	Major Products/Service Lines Three months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 716,728 — — (64,295 ) 652,433 SelectCare 125,850 — — (10,418 ) 115,432 Commercial rental 257,909 — — (15,175 ) 242,734 Fuel 214,534 — — (57,747 ) 156,787 Other 21,527 — — — 21,527 DTS — 340,604 — — 340,604 SCS — — 628,544 — 628,544 Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Three months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 673,882 — — (57,265 ) 616,617 SelectCare 116,985 — — (8,206 ) 108,779 Commercial rental 216,016 — — (9,436 ) 206,580 Fuel 169,787 — — (40,700 ) 129,087 Other 19,127 — — — 19,127 DTS — 272,201 — — 272,201 SCS — — 488,506 — 488,506 Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Nine months ended September 30, 2018 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 2,107,938 — (187,822 ) 1,920,116 SelectCare 372,989 — (29,603 ) 343,386 Commercial rental 694,864 — (37,536 ) 657,328 Fuel 633,571 — (166,724 ) 466,847 Other 65,218 — — — 65,218 DTS — 970,196 — — 970,196 SCS — — 1,727,775 — 1,727,775 Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Nine months ended September 30, 2017 FMS DTS SCS Eliminations Total (In thousands) ChoiceLease $ 1,992,656 — — (167,382 ) 1,825,274 SelectCare 347,978 — — (26,732 ) 321,246 Commercial rental 589,362 — — (26,835 ) 562,527 Fuel 505,055 — — (122,089 ) 382,966 Other 56,795 — — — 56,795 DTS — 811,277 — — 811,277 SCS — — 1,405,823 — 1,405,823 Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908 Industry Our SCS business segment includes revenue from the below industries: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Automotive $ 250,499 193,284 $ 690,177 578,087 Technology and healthcare 123,045 99,078 340,528 274,030 CPG and retail 210,965 136,590 544,019 381,967 Industrial and other 44,035 59,554 153,051 171,739 Total revenue $ 628,544 488,506 $ 1,727,775 1,405,823

REVENUE EARNING EQUIPMENT (Tabl

REVENUE EARNING EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue Earning Equipment [Abstract]
Summary of revenue earning equipment	September 30, 2018 December 31, 2017 Cost Accumulated Depreciation Net Book Value (1) Cost Accumulated Depreciation Net Book Value (1) (In thousands) Held for use: ChoiceLease $ 10,559,956 (3,623,781 ) 6,936,175 10,002,981 (3,367,431 ) 6,635,550 Commercial rental 3,163,603 (1,030,908 ) 2,132,695 2,616,706 (1,001,965 ) 1,614,741 Held for sale 413,677 (295,720 ) 117,957 403,229 (298,258 ) 104,971 Total $ 14,137,236 (4,950,409 ) 9,186,827 13,022,916 (4,667,654 ) 8,355,262 ———————————— (1) Revenue earning equipment, net includes vehicles under capital leases of $19 million , less accumulated depreciation of $10 million , at September 30, 2018 , and $29 million , less accumulated depreciation of $14 million , at December 31, 2017 .
Fair value, assets	The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Total Losses (2) September 30, December 31, Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 2018 2017 (In thousands) Assets held for sale: Revenue earning equipment (1) : Trucks $ 40,950 33,208 $ 9,713 6,215 $ 28,609 22,942 Tractors 24,897 27,976 1,317 1,127 6,795 18,444 Trailers 1,770 2,100 502 1,871 3,700 5,044 Total assets at fair value $ 67,617 63,284 $ 11,532 9,213 $ 39,104 46,430 ———————————— (1) Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where net book values exceeded fair values and fair value adjustments were recorded. The net book value of assets held for sale that were less than fair value was $50 million and $42 million as of September 30, 2018 and December 31, 2017 , respectively. (2) Total losses represent fair value adjustments for all vehicles reclassified to held for sale throughout the period for which fair value was less than net book value.
Gain and losses revenue earning equipment	For the three and nine months ended September 30, 2018 and 2017 , the components of used vehicle sales, net were as follows: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Gains on vehicle sales, net $ (8,520 ) (11,940 ) $ (22,670 ) (34,615 ) Losses from fair value adjustments 11,532 9,213 39,104 46,430 Used vehicle sales, net $ 3,012 (2,727 ) $ 16,434 11,815

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The carrying amount of goodwill attributable to each reportable business segment was as follows: Fleet Dedicated Transportation Solutions Supply Chain Solutions Total (In thousands) Balance at December 31, 2017 Goodwill $ 237,176 40,808 146,741 424,725 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 226,854 40,808 127,842 395,504 Acquisitions (1) 31,209 — 81,848 113,057 Foreign currency translation adjustments 279 — (158 ) 121 Balance at September 30, 2018 Goodwill 268,664 40,808 228,431 537,903 Accumulated impairment losses (25,835 ) — (18,899 ) (44,734 ) $ 242,829 40,808 209,532 493,169 ——————————— (1) See Note 3 , " Acquisitions ," in the Notes to Consolidated Condensed Financial Statements for additional information.

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	September 30, 2018 December 31, 2017 Accrued Expenses Non-Current Liabilities Total Accrued Expenses Non-Current Liabilities Total (In thousands) Salaries and wages $ 134,016 — 134,016 $ 135,930 — 135,930 Deferred compensation 5,172 63,194 68,366 4,269 58,411 62,680 Pension benefits 3,855 400,197 404,052 3,863 412,417 416,280 Other postretirement benefits 1,476 18,631 20,107 1,481 19,760 21,241 Other employee benefits 23,034 — 23,034 28,636 3,279 31,915 Insurance obligations (1) 148,736 260,357 409,093 130,848 242,473 373,321 Operating taxes 94,004 — 94,004 95,848 — 95,848 Income taxes 5,883 20,843 26,726 8,550 23,888 32,438 Interest 34,521 — 34,521 30,003 — 30,003 Deposits, mainly from customers 81,200 3,391 84,591 69,903 3,638 73,541 Deferred revenue 21,500 — 21,500 14,004 — 14,004 Restructuring liabilities (2) 4,372 — 4,372 13,074 — 13,074 Other 60,906 61,536 122,442 53,194 48,776 101,970 Total $ 618,675 828,149 1,446,824 $ 589,603 812,642 1,402,245 ———————————— (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) The reduction in restructuring liabilities from December 31, 2017 , principally represents cash payments for employee termination costs. The majority of the balance remaining in restructuring liabilities is expected to be paid by the second quarter of 2019.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	Weighted-Average Interest Rate September 30, December 31, Maturities September 30, December 31, (In thousands) Short-term debt and current portion of long-term debt: Short-term debt —% 1.79% $ — 35,509 Current portion of long-term debt 859,530 790,560 Total short-term debt and current portion of long-term debt 859,530 826,069 Long-term debt: U.S. commercial paper (1) 2.30% 1.56% 2023 410,273 570,218 Canadian commercial paper (1) 1.83% —% 2023 94,427 — Global revolving credit facility 3.34% 2.80% 2023 3,250 17,328 Unsecured U.S. notes — Medium-term notes (1) 3.09% 2.73% 2018-2025 4,863,427 4,014,091 Unsecured U.S. obligations 3.21% 2.79% 2019 50,000 50,000 Unsecured foreign obligations 1.61% 1.50% 2020-2021 222,489 230,380 Asset-backed U.S. obligations (2) 2.34% 1.85% 2018-2025 657,819 491,899 Capital lease obligations 3.57% 3.53% 2018-2023 15,019 20,871 Total before fair market value adjustment 6,316,704 5,394,787 Fair market value adjustment on notes subject to hedging (3) (16,126 ) (7,192 ) Debt issuance costs (17,468 ) (13,453 ) 6,283,110 5,374,142 Current portion of long-term debt (859,530 ) (790,560 ) Long-term debt 5,423,580 4,583,582 Total debt $ 6,283,110 5,409,651 ———————————— (1) Amounts are net of unamortized original issue discounts of $7 million and $6 million at September 30, 2018 and December 31, 2017 . (2) Asset-backed U.S. obligations are related to financing transactions involving revenue earning equipment. (3) The notional amount of the executed interest rate swaps designated as fair value hedges was $825 million at September 30, 2018 and December 31, 2017 .

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss, Net of Tax	The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service (Cost)/ Credit (1) Accumulated Other Comprehensive Loss (In thousands) December 31, 2017 $ (140,438 ) (560,153 ) (6,910 ) (707,501 ) Amortization — 15,784 238 16,022 Other current period change (23,198 ) (903 ) — (24,101 ) Adoption of new accounting standard (2) — (98,987 ) (1,580 ) (100,567 ) September 30, 2018 $ (163,636 ) (644,259 ) (8,252 ) (816,147 ) Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service Credit (1) Accumulated Other Comprehensive Loss (In thousands) December 31, 2016 $ (206,610 ) (620,292 ) (7,130 ) (834,032 ) Amortization — 15,252 165 15,417 Other current period change 70,991 810 — 71,801 September 30, 2017 $ (135,619 ) (604,230 ) (6,965 ) (746,814 ) _______________________ (1) These amounts are included in the computation of net pension expense. See Note 15 , " Employee Benefit Plans ," for additional information. (2) Refer to Note 2 , " Recent Accounting Pronouncements " for additional information.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Common Share from Continuing Operations	The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands, except per share amounts) Earnings per share — Basic: Earnings from continuing operations $ 89,511 59,040 $ 166,962 148,971 Less: Earnings allocated to unvested stock (326 ) (223 ) (601 ) (538 ) Earnings from continuing operations available to common shareholders — Basic $ 89,185 58,817 $ 166,361 148,433 Weighted average common shares outstanding — Basic 52,397 52,405 52,391 52,671 Earnings from continuing operations per common share — Basic $ 1.70 1.12 $ 3.18 2.82 Earnings per share — Diluted: Earnings from continuing operations $ 89,511 59,040 $ 166,962 148,971 Less: Earnings allocated to unvested stock (326 ) (223 ) (601 ) (538 ) Earnings from continuing operations available to common shareholders — Diluted $ 89,185 58,817 $ 166,361 148,433 Weighted average common shares outstanding — Basic 52,397 52,405 52,391 52,671 Effect of dilutive equity awards 373 371 349 356 Weighted average common shares outstanding — Diluted 52,770 52,776 52,740 53,027 Earnings from continuing operations per common share — Diluted $ 1.69 1.12 $ 3.15 2.80 Anti-dilutive equity awards not included above 1,197 843 1,230 889

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Expense and Income Tax Benefits Recognized During the Periods	The following table provides information on share-based compensation expense and income tax benefits recognized during the periods: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Stock option and stock purchase plans $ 1,917 1,953 $ 5,688 5,811 Unvested stock 5,262 2,618 13,143 8,823 Share-based compensation expense 7,179 4,571 18,831 14,634 Income tax benefit (1,388 ) (1,608 ) (3,617 ) (5,090 ) Share-based compensation expense, net of tax $ 5,791 2,963 $ 15,214 9,544
Share-based Compensation, Activity	The following table is a summary of the awards granted under the Plans during the periods presented: Nine months ended September 30, 2018 2017 (Shares in thousands) Stock options 347 465 Market-based restricted stock rights — 46 Performance-based restricted stock rights 200 79 Time-vested restricted stock rights 167 110 Total 714 700

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of net pension expense were as follows: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Pension Benefits Company-administered plans: Service cost $ 3,074 3,165 $ 9,370 9,431 Interest cost 19,425 21,609 58,275 64,524 Expected return on plan assets (25,187 ) (22,822 ) (76,086 ) (68,012 ) Amortization of: Net actuarial loss 7,130 8,336 21,416 24,863 Prior service cost 145 133 434 399 4,587 10,421 13,409 31,205 Union-administered plans 2,469 7,873 7,339 12,996 Net pension expense $ 7,056 18,294 $ 20,748 44,201 Company-administered plans: U.S. $ 7,011 10,929 $ 21,033 32,787 Non-U.S. (2,424 ) (508 ) (7,624 ) (1,582 ) 4,587 10,421 13,409 31,205 Union-administered plans 2,469 7,873 7,339 12,996 Net pension expense $ 7,056 18,294 $ 20,748 44,201

OTHER ITEMS IMPACTING COMPARA_2

OTHER ITEMS IMPACTING COMPARABILITY (Tables)	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Other Items Impacting Comparability Table	Excluding these items from our segment measure of performance allows for better year over year comparison: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (In thousands) Restructuring and other, net $ 313 4,255 $ 4,209 1,681 Goodwill impairment (1) — — 15,513 — Pension settlement charge — 5,454 — 5,454 Operating tax adjustment — — — 2,205 Restructuring and other items, net $ 313 9,709 $ 19,722 9,340 ———————————— (1) Refer to Note 6 , " Goodwill ," for additional information.

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental cash flow information was as follows: Nine months ended September 30, 2018 2017 (In thousands) Interest paid $ 116,506 99,889 Income taxes paid 20,181 10,596 Changes in accounts payable related to purchases of revenue earning equipment (96,161 ) (63,184 ) Operating and revenue earning equipment acquired under capital leases 2,134 6,209 Changes in restricted cash (2,110 ) (1,694 )
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Condensed Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Condensed Statements of Cash Flows. September 30, 2018 December 31, 2017 (In thousands) Cash and cash equivalents $ 60,688 $ 78,348 Restricted cash included in prepaid expenses and other current assets 2,564 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 63,252 $ 83,022
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Condensed Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Condensed Statements of Cash Flows. September 30, 2018 December 31, 2017 (In thousands) Cash and cash equivalents $ 60,688 $ 78,348 Restricted cash included in prepaid expenses and other current assets 2,564 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 63,252 $ 83,022

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Financial information of business segments	The following tables set forth financial information for each of our segments and provide a reconciliation between segment EBT and earnings from continuing operations before income taxes for the three and nine months ended September 30, 2018 and 2017 . Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Prior period segment EBT amounts have been reclassified to conform to the current period presentation. These reclassifications were immaterial to the financial statements taken as a whole. FMS DTS SCS Eliminations Total (In thousands) For the three months ended September 30, 2018 Revenue from external customers $ 1,188,913 340,604 628,544 — 2,158,061 Inter-segment revenue 147,635 — — (147,635 ) — Total revenue $ 1,336,548 340,604 628,544 (147,635 ) 2,158,061 Segment EBT $ 95,153 13,929 37,365 (16,063 ) 130,384 Unallocated CSS (12,770 ) Non-operating pension costs (1) (1,161 ) Restructuring and other items, net (2) (313 ) Earnings from continuing operations before income taxes $ 116,140 Segment capital expenditures paid (3) $ 769,426 473 2,652 — 772,551 Unallocated CSS capital expenditures paid 6,154 Capital expenditures paid $ 778,705 For the three months ended September 30, 2017 Revenue from external customers $ 1,080,190 272,201 488,506 — 1,840,897 Inter-segment revenue 115,607 — — (115,607 ) — Total revenue $ 1,195,797 272,201 488,506 (115,607 ) 1,840,897 Segment EBT $ 100,803 13,734 22,093 (14,464 ) 122,166 Unallocated CSS (11,007 ) Non-operating pension costs (1) (6,958 ) Restructuring and other items, net (2) (9,709 ) Earnings from continuing operations before income taxes $ 94,492 Segment capital expenditures paid (3) $ 431,093 1,878 16,705 — 449,676 Unallocated CSS capital expenditures paid 7,917 Capital expenditures paid $ 457,593 ———————————— (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest costs and expected return on plan assets. (2) See Note 16 , " Other Items Impacting Comparability ," for additional information. (3) Excludes revenue earning equipment acquired under capital leases. FMS DTS SCS Eliminations Total (In thousands) For the nine months ended September 30, 2018 Revenue from external customers $ 3,452,895 970,196 1,727,775 — 6,150,866 Inter-segment revenue 421,685 — — (421,685 ) — Total revenue $ 3,874,580 970,196 1,727,775 (421,685 ) 6,150,866 Segment EBT 217,851 45,433 101,283 (44,644 ) 319,923 Unallocated CSS (34,437 ) Non-operating pension costs (1) (3,241 ) Restructuring and other items, net (2) (19,722 ) Earnings from continuing operations before income taxes $ 262,523 Segment capital expenditures paid (3)(4) $ 2,150,490 1,115 31,268 — 2,182,873 Unallocated CSS capital expenditures paid 17,133 Capital expenditures paid $ 2,200,006 For the nine months ended September 30, 2017 Revenue from external customers $ 3,148,808 811,277 1,405,823 — 5,365,908 Inter-segment revenue 343,038 — — (343,038 ) — Total revenue $ 3,491,846 811,277 1,405,823 (343,038 ) 5,365,908 Segment EBT $ 221,200 39,834 76,188 (38,053 ) 299,169 Unallocated CSS (32,986 ) Non-operating pension costs (1) (20,875 ) Restructuring and other items, net (2) (9,340 ) Earnings from continuing operations before income taxes $ 235,968 Segment capital expenditures paid (3) $ 1,255,789 2,989 34,839 — 1,293,617 Unallocated CSS capital expenditures paid 19,228 Capital expenditures paid $ 1,312,845 ———————————— (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest costs and expected return on plan assets. (2) See Note 16 , Other Items Impacting Comparability ," for additional information. (3) Excludes revenue earning equipment acquired under capital leases. (4) Excludes acquisition payments of $35 million during the nine months ended September 30, 2018.

GENERAL (Details)

GENERAL (Details)	9 Months Ended
	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
Payment term of contract with customer	90 years

RECENT ACCOUNTING PRONOUNCEME_4

RECENT ACCOUNTING PRONOUNCEMENTS (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amount of restricted cash in prepaid expenses and other assets	$ 3	$ 5
Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effects	$ 101

RECENT ACCOUNTING PRONOUNCEME_5

RECENT ACCOUNTING PRONOUNCEMENTS Revenue Recognition - Effect on Statement of Consolidated Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
Selling, general and administrative expenses	215,506	212,249	637,282	614,809
Earnings from continuing operations before income taxes	116,140	94,492	262,523	235,968
Provision for income taxes	26,629	35,452	95,561	86,997
Earnings from continuing operations	89,511	59,040	166,962	148,971
Net earnings	88,751	58,750	164,514	148,024
Comprehensive income	$ 100,571	$ 92,156	$ 156,435	$ 235,242
Earnings per common share - Basic
Continuing operations (in dollars per share)	$ 1.70	$ 1.12	$ 3.18	$ 2.82
Earnings per common share - Diluted
Continuing operations (in dollars per share)	$ 1.69	$ 1.12	$ 3.15	$ 2.80
Correction of prior period error		$ 8,000		$ 24,000
Charges related to professional fees		4,000		4,000
Service
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	$ 1,106,107	888,613	$ 3,106,575	2,595,141
Cost of services	$ 945,851	753,838	$ 2,639,137	2,186,316
As Previously Reported | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues		1,848,500		5,389,900
Selling, general and administrative expenses		216,700		620,000
Earnings from continuing operations before income taxes		94,300		235,000
Provision for income taxes		35,400		86,500
Earnings from continuing operations		58,900		148,500
Net earnings		58,600		147,600
Comprehensive income		$ 92,000		$ 234,800
Earnings per common share - Basic
Continuing operations (in dollars per share)		$ 1.12		$ 2.81
Earnings per common share - Diluted
Continuing operations (in dollars per share)		$ 1.11		$ 2.79
As Previously Reported | Service | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues		$ 896,200		$ 2,619,100
Cost of services		761,500		2,210,300
New Revenue Standard Adjustment | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues		(7,600)		(24,000)
Selling, general and administrative expenses		(4,400)		(5,200)
Earnings from continuing operations before income taxes		100		1,000
Provision for income taxes		0		500
Earnings from continuing operations		100		400
Net earnings		100		400
Comprehensive income		$ 100		$ 400
Earnings per common share - Basic
Continuing operations (in dollars per share)		$ 0		$ 0.01
Earnings per common share - Diluted
Continuing operations (in dollars per share)		$ 0.01		$ 0.01
New Revenue Standard Adjustment | Service | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues		$ (7,600)		$ (24,000)
Cost of services		$ (7,600)		$ (24,000)

RECENT ACCOUNTING PRONOUNCEME_6

RECENT ACCOUNTING PRONOUNCEMENTS Revenue Recognition - Effect on Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets	$ 169,175	$ 160,094
Total current assets	1,464,656	1,322,893
Direct financing leases and other assets	652,249	570,706
Total assets	12,684,305	11,463,999
Accrued expenses and other current liabilities	618,675	589,603
Total current liabilities	2,182,818	2,014,975
Other non-current liabilities	828,149	812,642
Deferred income taxes	1,331,360	1,211,129
Total liabilities	9,765,907	8,622,328
Retained earnings	2,632,589	2,471,677
Total shareholders' equity	2,918,398	2,841,671
Total liabilities and shareholders' equity	$ 12,684,305	11,463,999
As Previously Reported | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets		159,500
Total current assets		1,322,300
Direct financing leases and other assets		559,500
Total assets		11,452,200
Accrued expenses and other current liabilities		587,400
Total current liabilities		2,012,800
Other non-current liabilities		812,100
Deferred income taxes		1,208,800
Total liabilities		8,617,200
Retained earnings		2,465,000
Total shareholders' equity		2,835,000
Total liabilities and shareholders' equity		11,452,200
New Revenue Standard Adjustment | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets		600
Total current assets		600
Direct financing leases and other assets		11,200
Total assets		11,800
Accrued expenses and other current liabilities		2,200
Total current liabilities		2,200
Other non-current liabilities		600
Deferred income taxes		2,400
Total liabilities		5,100
Retained earnings		6,700
Total shareholders' equity		6,700
Total liabilities and shareholders' equity		$ 11,800

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	Jun. 15, 2018	Apr. 02, 2018	Sep. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill			$ 493,169	$ 395,504
MXD Group
Business Acquisition [Line Items]
Purchase price of outstanding equity in acquisition		$ 118,000
Acquisition transaction costs			1,000
Customer relationships and other intangibles		23,651
Goodwill		$ 81,848
Metro
Business Acquisition [Line Items]
Purchase price of outstanding equity in acquisition	$ 52,000
Acquisition transaction costs			$ 500
Customer relationships and other intangibles	400
Tangible assets net of liabilities assumed	20,000
Goodwill	$ 31,000
Customer Relationships | MXD Group
Business Acquisition [Line Items]
Amortization period			8 years

ACQUISITIONS Purchase Price All

ACQUISITIONS Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Apr. 02, 2018	Dec. 31, 2017
Assets:
Goodwill	$ 493,169		$ 395,504
MXD Group
Assets:
Operating property and equipment		$ 9,803
Goodwill		81,848
Customer relationships and other intangibles		23,651
Other assets, primarily accounts receivable		31,492
Total assets		146,794
Liabilities [Abstract]
Accrued liabilities		(18,107)
Deferred income taxes		(5,760)
Other liabilities, primarily accounts payable		(4,979)
Net assets acquired		$ 117,948

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Trade receivables	1,040,000	$ 899,000
Deferred revenue	$ 13,000

REVENUE Disaggregation of Reven

REVENUE Disaggregation of Revenue - Geographical (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
U.S.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,887,263	1,587,510	5,344,372	4,636,878
Canada
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	115,397	111,483	345,805	319,022
Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	80,640	80,432	253,386	235,527
Mexico
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	68,705	53,427	189,181	151,169
Singapore
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	6,056	8,045	18,122	23,312
FMS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,336,548	1,195,797	3,874,580	3,491,846
FMS | U.S.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,180,337	1,041,610	3,395,291	3,048,742
FMS | Canada
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	75,571	73,755	225,903	207,577
FMS | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	80,640	80,432	253,386	235,527
FMS | Mexico
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
FMS | Singapore
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	340,604	272,201	970,196	811,277
DTS | U.S.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	340,604	272,201	970,196	811,277
DTS | Canada
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0		0	0
DTS | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | Mexico
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | Singapore
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	628,544	488,506	1,727,775	1,405,823
SCS | U.S.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	508,196	384,414	1,384,044	1,106,226
SCS | Canada
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	45,587	42,620	136,428	125,116
SCS | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
SCS | Mexico
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	68,705	53,427	189,181	151,169
SCS | Singapore
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	6,056	8,045	18,122	23,312
Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(147,635)	(115,607)	(421,685)	(343,038)
Eliminations | U.S.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(141,874)	(110,715)	(405,159)	(329,367)
Eliminations | Canada
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(5,761)	(4,892)	(16,526)	(13,671)
Eliminations | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Eliminations | Mexico
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Eliminations | Singapore
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 0	$ 0	$ 0	$ 0

REVENUE Disaggregated Revenue -

REVENUE Disaggregated Revenue - Major Products/Service Lines (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
ChoiceLease
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	652,433	616,617	1,920,116	1,825,274
SelectCare
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	115,432	108,779	343,386	321,246
Commercial rental
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	242,734	206,580	657,328	562,527
Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	156,787	129,087	466,847	382,966
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	21,527	19,127	65,218	56,795
DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	340,604	272,201	970,196	811,277
SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	628,544	488,506	1,727,775	1,405,823
FMS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,336,548	1,195,797	3,874,580	3,491,846
FMS | ChoiceLease
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	716,728	673,882	2,107,938	1,992,656
FMS | SelectCare
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	125,850	116,985	372,989	347,978
FMS | Commercial rental
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	257,909	216,016	694,864	589,362
FMS | Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	214,534	169,787	633,571	505,055
FMS | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	21,527	19,127	65,218	56,795
FMS | DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
FMS | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	340,604	272,201	970,196	811,277
DTS | ChoiceLease
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | SelectCare
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | Commercial rental
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
DTS | DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	340,604	272,201	970,196	811,277
DTS | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	628,544	488,506	1,727,775	1,405,823
SCS | ChoiceLease
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0		0
SCS | SelectCare
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0		0
SCS | Commercial rental
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0		0
SCS | Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0		0
SCS | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
SCS | DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
SCS | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	628,544	488,506	1,727,775	1,405,823
Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(147,635)	(115,607)	(421,685)	(343,038)
Eliminations | ChoiceLease
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(64,295)	(57,265)	(187,822)	(167,382)
Eliminations | SelectCare
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(10,418)	(8,206)	(29,603)	(26,732)
Eliminations | Commercial rental
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(15,175)	(9,436)	(37,536)	(26,835)
Eliminations | Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(57,747)	(40,700)	(166,724)	(122,089)
Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Eliminations | DTS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0	0	0
Eliminations | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 0	$ 0	$ 0	$ 0

REVENUE Disaggregation of Rev_2

REVENUE Disaggregation of Revenue - Industry (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	628,544	488,506	1,727,775	1,405,823
Automotive | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	250,499	193,284	690,177	578,087
Technology and healthcare | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	123,045	99,078	340,528	274,030
CPG and retail | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	210,965	136,590	544,019	381,967
Industrial and other | SCS
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 44,035	$ 59,554	$ 153,051	$ 171,739

REVENUE EARNING EQUIPMENT Sched

REVENUE EARNING EQUIPMENT Schedule of Revenue Earning Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Revenue Earning Equipment [Line Items]
Cost	$ 14,137,236	$ 13,022,916
Accumulated Depreciation	(4,950,409)	(4,667,654)
Net Book Value	9,186,827	8,355,262
ChoiceLease
Revenue Earning Equipment [Line Items]
Cost	10,559,956	10,002,981
Accumulated Depreciation	(3,623,781)	(3,367,431)
Net Book Value	6,936,175	6,635,550
Commercial rental
Revenue Earning Equipment [Line Items]
Cost	3,163,603	2,616,706
Accumulated Depreciation	(1,030,908)	(1,001,965)
Net Book Value	2,132,695	1,614,741
Held for sale
Revenue Earning Equipment [Line Items]
Cost	413,677	403,229
Accumulated Depreciation	(295,720)	(298,258)
Net Book Value	117,957	104,971
Assets held under capital leases
Revenue Earning Equipment [Line Items]
Cost	19,000	29,000
Accumulated Depreciation	$ (10,000)	$ (14,000)

REVENUE EARNING EQUIPMENT (Deta

REVENUE EARNING EQUIPMENT (Details Textual) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Revenue Earning Equipment [Line Items]
Net investment in direct financing and sales-type leases	$ 461,000,000	$ 447,000,000
Direct financing leases and other assets	$ 0	$ 0
Trucks | Minimum
Revenue Earning Equipment [Line Items]
Lease term	3 years
Trucks | Maximum
Revenue Earning Equipment [Line Items]
Lease term	7 years
Trailers | Maximum
Revenue Earning Equipment [Line Items]
Lease term	10 years

REVENUE EARNING EQUIPMENT Level

REVENUE EARNING EQUIPMENT Level 3 Fair Value Measurement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Revenue Earning Equipment [Line Items]
Total losses	$ 11,532	$ 9,213	$ 39,104	$ 46,430
Net book value of assets held for sale	50,000		50,000		$ 42,000
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring
Revenue Earning Equipment [Line Items]
Assets held for sale	67,617		67,617		63,284
Total losses	11,532	9,213	39,104	46,430
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Trucks
Revenue Earning Equipment [Line Items]
Assets held for sale	40,950		40,950		33,208
Total losses	9,713	6,215	28,609	22,942
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Tractors
Revenue Earning Equipment [Line Items]
Assets held for sale	24,897		24,897		27,976
Total losses	1,317	1,127	6,795	18,444
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Trailers
Revenue Earning Equipment [Line Items]
Assets held for sale	1,770		1,770		$ 2,100
Total losses	$ 502	$ 1,871	$ 3,700	$ 5,044

REVENUE EARNING EQUIPMENT Recog

REVENUE EARNING EQUIPMENT Recognized Gains on Used Vehicles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue Earning Equipment [Abstract]
Gains on vehicle sales, net	$ (8,520)	$ (11,940)	$ (22,670)	$ (34,615)
Losses from fair value adjustments	11,532	9,213	39,104	46,430
Used vehicle sales, net	$ 3,012	$ (2,727)	$ 16,434	$ 11,815

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill [Roll Forward]
Goodwill, gross				$ 424,725
Accumulated impairment losses				(29,221)
Goodwill				395,504
Acquisitions				113,057
Foreign currency translation adjustments				121
Goodwill, gross		$ 537,903		537,903
Accumulated impairment losses		(44,734)		(44,734)
Goodwill		493,169		493,169
Goodwill impairment charge	$ 0	0	$ 0	15,513	$ 0
FMS
Goodwill [Roll Forward]
Goodwill, gross				237,176
Accumulated impairment losses				(10,322)
Goodwill				226,854
Acquisitions				31,209
Foreign currency translation adjustments				279
Goodwill, gross		268,664		268,664
Accumulated impairment losses		(25,835)		(25,835)
Goodwill		242,829		242,829
DTS
Goodwill [Roll Forward]
Goodwill, gross				40,808
Accumulated impairment losses				0
Goodwill				40,808
Acquisitions				0
Foreign currency translation adjustments				0
Goodwill, gross		40,808		40,808
Goodwill		40,808		40,808
SCS
Goodwill [Roll Forward]
Goodwill, gross				146,741
Accumulated impairment losses				(18,899)
Goodwill				127,842
Acquisitions				81,848
Foreign currency translation adjustments				(158)
Goodwill, gross		228,431		228,431
Accumulated impairment losses		(18,899)		(18,899)
Goodwill		$ 209,532		209,532
Europe | FMS
Goodwill [Roll Forward]
Goodwill impairment charge				$ 16,000

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Accrued Expenses
Salaries and wages	$ 134,016	$ 135,930
Deferred compensation	5,172	4,269
Pension benefits	3,855	3,863
Other postretirement benefits	1,476	1,481
Other employee benefits	23,034	28,636
Insurance obligations	148,736	130,848
Operating taxes	94,004	95,848
Income taxes	5,883	8,550
Interest	34,521	30,003
Deposits, mainly from customers	81,200	69,903
Deferred revenue	21,500	14,004
Restructuring liabilities	4,372	13,074
Other	60,906	53,194
Total	618,675	589,603
Non-Current Liabilities
Salaries and wages	0	0
Deferred compensation	63,194	58,411
Pension benefits	400,197	412,417
Other postretirement benefits	18,631	19,760
Other employee benefits	0	3,279
Insurance obligations	260,357	242,473
Operating taxes	0	0
Income taxes	20,843	23,888
Interest	0	0
Deposits, mainly from customers	3,391	3,638
Deferred revenue	0	0
Restructuring liabilities	0	0
Other	61,536	48,776
Total	828,149	812,642
Total
Salaries and wages	134,016	135,930
Deferred compensation	68,366	62,680
Pension benefits	404,052	416,280
Other postretirement benefits	20,107	21,241
Other employee benefits	23,034	31,915
Insurance obligations	409,093	373,321
Operating taxes	94,004	95,848
Income taxes	26,726	32,438
Interest	34,521	30,003
Deposits, mainly from customers	84,591	73,541
Deferred revenue	21,500	14,004
Restructuring liabilities	4,372	13,074
Other	122,442	101,970
Total	$ 1,446,824	$ 1,402,245

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Provisional estimate for transition tax	$ 29			$ 29		$ 33
AMT Credit Carryforwards	24			24
Charge related to sequestration reduction	1	$ 3		(1)
Unrecognized tax benefits	$ 64			$ 64		$ 68
Effective income tax rate from continuing operations	22.90%		37.50%	36.40%	36.90%
Tax benefit resulting from change in income tax rate	$ 2

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Short-term debt and current portion of long-term debt:
Short-term debt, weighted-average interest rate	0.00%	1.79%
Short-term debt	$ 0	$ 35,509,000
Current portion of long-term debt	859,530,000	790,560,000
Total short-term debt and current portion of long-term debt	859,530,000	826,069,000
Long-term debt:
Commercial paper	505,000,000
Total before fair market value adjustment	6,316,704,000	5,394,787,000
Fair market value adjustment on notes subject to hedging	(16,126,000)	(7,192,000)
Debt issuance costs	(17,468,000)	(13,453,000)
Total after fair market value adjustment	6,283,110,000	5,374,142,000
Current portion of long-term debt	(859,530,000)	(790,560,000)
Long-term debt	5,423,580,000	4,583,582,000
Total debt	6,283,110,000	5,409,651,000
Unamortized original issue discounts	7,000,000	6,000,000
Aggregate notional amount of interest rate swaps	$ 825,000,000	$ 825,000,000
U.S. commercial paper
Long-term debt:
Long-term debt, weighted-average interest rate	2.30%	1.56%
Commercial paper	$ 410,273,000	$ 570,218,000
Canadian commercial paper
Long-term debt:
Long-term debt, weighted-average interest rate	1.83%	0.00%
Commercial paper	$ 94,427,000	$ 0
Global revolving credit facility
Long-term debt:
Long-term debt, weighted-average interest rate	3.34%	2.80%
Global revolving credit facility	$ 3,250,000	$ 17,328,000
Unsecured U.S. notes — Medium-term notes
Long-term debt:
Long-term debt, weighted-average interest rate	3.09%	2.73%
Unsecured U.S. notes - Medium-term notes	$ 4,863,427,000	$ 4,014,091,000
Unsecured U.S. obligations
Long-term debt:
Long-term debt, weighted-average interest rate	3.21%	2.79%
Unsecured U.S. obligations	$ 50,000,000	$ 50,000,000
Unsecured foreign obligations
Long-term debt:
Long-term debt, weighted-average interest rate	1.61%	1.50%
Obligations	$ 222,489,000	$ 230,380,000
Asset-backed U.S. obligations
Long-term debt:
Long-term debt, weighted-average interest rate	2.34%	1.85%
Obligations	$ 657,819,000	$ 491,899,000
Capital lease obligations
Long-term debt:
Long-term debt, weighted-average interest rate	3.57%	3.53%
Capital lease obligations	$ 15,019,000	$ 20,871,000

DEBT (Details Textual)

DEBT (Details Textual)	1 Months Ended		9 Months Ended
	Jul. 31, 2018USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2018USD ($)instution	Aug. 31, 2018USD ($)	Feb. 28, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000	$ 1,400,000,000
Number of lending institutions | instution			12
Annual facility fees, percentage			0.10%
Ratio of debt to consolidated net worth			3
Debt to consolidated tangible net worth ratio			177.00%
Line of credit remaining capacity			$ 892,000,000
Commercial paper classified as long term debt			505,000,000
Short term maturities classified as long term debt			50,000,000
Amount received from financing transactions	$ 125,000,000	100,000,000
Total available proceeds under trade receivables purchase and sale program			$ 225,000,000
Number of days under trade receivables purchase and sale program			364 days
Trade receivables borrowings			$ 0			$ 0
Letters of credit and surety bonds outstanding			347,000,000			350,000,000
Fair value of total debt			5,600,000,000			4,950,000,000
U.S. commercial paper
Debt Instrument [Line Items]
Commercial paper classified as long term debt			410,273,000			570,218,000
Global revolving credit facility
Debt Instrument [Line Items]
Current maturities classified as long-term debt			$ 550,000,000			$ 16,000,000
Unsecured medium term notes due June 2021
Debt Instrument [Line Items]
Face amount of unsecured medium-term notes issued				$ 300,000,000
Unsecured medium term notes due March 2023
Debt Instrument [Line Items]
Face amount of unsecured medium-term notes issued					$ 450,000,000
Unsecured medium term notes due June 2023
Debt Instrument [Line Items]
Face amount of unsecured medium-term notes issued		$ 450,000,000
Debt repurchase price, percentage			101.00%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 75,000,000
Letter of credit outstanding amount			$ 0
Minimum
Debt Instrument [Line Items]
Annual facility fees, percentage			0.075%
Maximum
Debt Instrument [Line Items]
Annual facility fees, percentage			0.20%

DERIVATIVES (Details)

DERIVATIVES (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Aggregate notional amount of interest rate swaps	$ 825,000,000	$ 825,000,000
Face value of medium-term notes	16,000,000	$ 7,000,000
Fair Value Hedging
Derivative [Line Items]
Aggregate notional amount of interest rate swaps	825,000,000
Cash Flow Hedging
Derivative [Line Items]
Aggregate notional amount of interest rate swaps	$ 15,000,000

SHARE REPURCHASE PROGRAMS (Deta

SHARE REPURCHASE PROGRAMS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
December 2017 Program
Accelerated Share Repurchases [Line Items]
Common stock repurchases	$ 28	$ 66
Common Stock | December 2017 Program
Accelerated Share Repurchases [Line Items]
Repurchased and retired shares (in shares)	369,000	933,000
December 2017 Program
Accelerated Share Repurchases [Line Items]
Maximum number of share repurchases authorization (in shares)			1,500,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,841,671
Amortization	16,022	$ 15,417
Other current period change	(24,101)	71,801
Adoption of new accounting standard	(100,567)
Ending balance	2,918,398
Currency Translation Adjustments and Other
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(140,438)	(206,610)
Amortization	0	0
Other current period change	(23,198)	70,991
Adoption of new accounting standard	0
Ending balance	(163,636)	(135,619)
Net Actuarial Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(560,153)	(620,292)
Amortization	15,784	15,252
Other current period change	(903)	810
Adoption of new accounting standard	(98,987)
Ending balance	(644,259)	(604,230)
Prior Service (Cost)/ Credit
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(6,910)	(7,130)
Amortization	238	165
Other current period change	0	0
Adoption of new accounting standard	(1,580)
Ending balance	(8,252)	(6,965)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(707,501)	(834,032)
Ending balance	$ (816,147)	$ (746,814)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings per share — Basic:
Earnings from continuing operations	$ 89,511	$ 59,040	$ 166,962	$ 148,971
Less: Earnings allocated to unvested stock	(326)	(223)	(601)	(538)
Earnings from continuing operations available to common shareholders — Basic	$ 89,185	$ 58,817	$ 166,361	$ 148,433
Weighted average common shares outstanding - Basic (in shares)	52,397	52,405	52,391	52,671
Earnings from continuing operations per common share - Basic (in dollars per share)	$ 1.70	$ 1.12	$ 3.18	$ 2.82
Earnings per share — Diluted:
Earnings from continuing operations	$ 89,511	$ 59,040	$ 166,962	$ 148,971
Less: Earnings allocated to unvested stock	(326)	(223)	(601)	(538)
Earnings from continuing operations available to common shareholders — Diluted	$ 89,185	$ 58,817	$ 166,361	$ 148,433
Weighted average common shares outstanding - Basic (in shares)	52,397	52,405	52,391	52,671
Effect of dilutive equity awards (in shares)	373	371	349	356
Weighted average common shares outstanding — Diluted (in shares)	52,770	52,776	52,740	53,027
Earnings from continuing operations per common share - Diluted (in dollars per share)	$ 1.69	$ 1.12	$ 3.15	$ 2.80
Anti-dilutive equity awards not included above (in shares)	1,197	843	1,230	889

SHARE-BASED COMPENSATION PLAN_2

SHARE-BASED COMPENSATION PLANS - Share-Based Compensation Expense and Income Tax Benefits Recognized During the Periods (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,179	$ 4,571	$ 18,831	$ 14,634
Income tax benefit	(1,388)	(1,608)	(3,617)	(5,090)
Share-based compensation expense, net of tax	5,791	2,963	15,214	9,544
Stock option and stock purchase plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,917	1,953	5,688	5,811
Unvested stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5,262	$ 2,618	$ 13,143	$ 8,823

SHARE-BASED COMPENSATION PLAN_3

SHARE-BASED COMPENSATION PLANS (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation cost not yet recognized	$ 35
Compensation cost not yet recognized, period for recognition	1 year 10 months 24 days

SHARE-BASED COMPENSATION PLAN_4

SHARE-BASED COMPENSATION PLANS - Summary of Awards Granted (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	714	700
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	347	465
Market-based restricted stock rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, other than options (in shares)	0	46
Performance-based restricted stock rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, other than options (in shares)	200	79
Time-vested restricted stock rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, other than options (in shares)	167	110

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Amortization of:
Contribution to pension plans			$ 23,000
Expected plan contributions	$ 27,000		27,000
Pension Benefits
Amortization of:
Net pension expense	7,056	$ 18,294	20,748	$ 44,201
Company Administered Plan | Pension Benefits
Components of net periodic benefit cost
Service cost	3,074	3,165	9,370	9,431
Interest cost	19,425	21,609	58,275	64,524
Expected return on plan assets	(25,187)	(22,822)	(76,086)	(68,012)
Amortization of:
Net actuarial loss	7,130	8,336	21,416	24,863
Prior service cost	145	133	434	399
Net pension expense	4,587	10,421	13,409	31,205
Union Administered Plan | Pension Benefits
Amortization of:
Net pension expense	2,469	7,873	7,339	12,996
U.S. | Company Administered Plan | Pension Benefits
Amortization of:
Net pension expense	7,011	10,929	21,033	32,787
Non-U.S. | Company Administered Plan | Pension Benefits
Amortization of:
Net pension expense	$ (2,424)	$ (508)	$ (7,624)	$ (1,582)

OTHER ITEMS IMPACTING COMPARA_3

OTHER ITEMS IMPACTING COMPARABILITY (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and other, net		$ 313	$ 4,255			$ 4,209	$ 1,681
Goodwill impairment charge	$ 0	0	0			15,513	0
Pension settlement charge		0	5,454			0	5,454
Operating tax adjustment		0	0		$ 2,000	0	2,205
Restructuring and other items, net		313	9,709			19,722	9,340
Restructuring charges (credits)				$ 3,000
Acquisition transaction costs and restructuring charges		400				3,000
Restructuring and other charges, related to professional fees and adjustments		1,000				3,000
Charges related to professional fees			$ 4,000				$ 4,000
One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)		600				3,000
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)		$ (2,000)				$ (4,000)

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental cash flow information
Interest paid	$ 116,506	$ 99,889
Income taxes paid	20,181	10,596
Changes in accounts payable related to purchases of revenue earning equipment	(96,161)	(63,184)
Operating and revenue earning equipment acquired under capital leases	2,134	6,209
Changes in restricted cash	$ (2,110)	$ (1,694)

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Reconciliation of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 60,688	$ 78,348
Restricted cash included in prepaid expenses and other current assets	2,564	4,674
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 63,252	$ 83,022	$ 67,400	$ 62,639

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Total revenue	$ 2,158,061	$ 1,840,897	$ 6,150,866	$ 5,365,908
Segment EBT	130,384	122,166	319,923	299,169
Unallocated CSS	(12,770)	(11,007)	(34,437)	(32,986)
Non-operating pension costs	(1,161)	(6,958)	(3,241)	(20,875)
Restructuring and other items, net	(313)	(9,709)	(19,722)	(9,340)
Earnings from continuing operations before income taxes	116,140	94,492	262,523	235,968
Segment capital expenditures paid	772,551	449,676	2,182,873	1,293,617
Unallocated CSS capital expenditures paid	6,154	7,917	17,133	19,228
Capital expenditures paid	778,705	457,593	2,200,006	1,312,845
Acquisition payments			35,000
FMS
Segment Reporting Information [Line Items]
Total revenue	1,188,913	1,080,190	3,452,895	3,148,808
DTS
Segment Reporting Information [Line Items]
Total revenue	340,604	272,201	970,196	811,277
SCS
Segment Reporting Information [Line Items]
Total revenue	628,544	488,506	1,727,775	1,405,823
Eliminations
Segment Reporting Information [Line Items]
Total revenue	(147,635)	(115,607)	(421,685)	(343,038)
Segment EBT	(16,063)	(14,464)	(44,644)	(38,053)
Segment capital expenditures paid	0	0	0	0
Eliminations | FMS
Segment Reporting Information [Line Items]
Total revenue	147,635	115,607	421,685	343,038
Eliminations | DTS
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Eliminations | SCS
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | FMS
Segment Reporting Information [Line Items]
Total revenue	1,336,548	1,195,797	3,874,580	3,491,846
Segment EBT	95,153	100,803	217,851	221,200
Segment capital expenditures paid	769,426	431,093	2,150,490	1,255,789
Operating Segments | DTS
Segment Reporting Information [Line Items]
Total revenue	340,604	272,201	970,196	811,277
Segment EBT	13,929	13,734	45,433	39,834
Segment capital expenditures paid	2,652	1,878	31,268	2,989
Operating Segments | SCS
Segment Reporting Information [Line Items]
Total revenue	628,544	488,506	1,727,775	1,405,823
Segment EBT	37,365	22,093	101,283	76,188
Segment capital expenditures paid	$ 473	$ 16,705	$ 1,115	$ 34,839