ArcBest (ARCB) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	000-19969
Entity Registrant Name	ARCBEST CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0673405
Entity Address, Address Line One	8401 McClure Drive
Entity Address, City or Town	Fort Smith
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72916
City Area Code	479
Local Phone Number	785-6000
Title of 12(b) Security	Common Stock
Trading Symbol	ARCB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,417,880
Entity Central Index Key	0000894405
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 155,531	$ 76,620
Short-term investments	145,758	48,339
Accounts receivable, less allowances (2022 - $15,441; 2021 - $13,226)	627,092	582,344
Other accounts receivable, less allowances (2022 - $709; 2021 - $690)	11,472	13,094
Prepaid expenses	32,280	40,104
Prepaid and refundable income taxes	16,010	9,654
Other	9,885	5,898
TOTAL CURRENT ASSETS	998,028	776,053
PROPERTY, PLANT AND EQUIPMENT
Land and structures	361,705	350,694
Revenue equipment	1,014,369	980,283
Service, office, and other equipment	291,595	251,085
Software	178,145	175,989
Leasehold improvements	20,865	16,931
TOTAL PROPERTY, PLANT AND EQUIPMENT, Gross	1,866,679	1,774,982
Less allowances for depreciation and amortization	1,120,962	1,079,061
PROPERTY, PLANT AND EQUIPMENT, net	745,717	695,921
GOODWILL	307,252	300,337
INTANGIBLE ASSETS, net	116,922	126,580
OPERATING RIGHT-OF-USE ASSETS	164,654	106,686
DEFERRED INCOME TAXES	5,563	5,470
OTHER LONG-TERM ASSETS	101,978	101,629
TOTAL ASSETS	2,440,114	2,112,676
CURRENT LIABILITIES
Accounts payable	329,887	311,401
Income taxes payable	7,668	12,087
Accrued expenses	331,610	305,851
Current portion of long-term debt	63,521	50,615
Current portion of operating lease liabilities	24,686	22,740
TOTAL CURRENT LIABILITIES	757,372	702,694
LONG-TERM DEBT, less current portion	189,798	174,917
OPERATING LEASE LIABILITIES, less current portion	146,134	88,835
POSTRETIREMENT LIABILITIES, less current portion	16,681	16,733
OTHER LONG-TERM LIABILITIES	134,701	135,537
DEFERRED INCOME TAXES	69,136	64,893
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value, authorized 70,000,000 shares; issued 2022: 29,747,867 shares, 2021: 29,359,597 shares	297	294
Additional paid-in capital	337,113	318,033
Retained earnings	1,054,294	801,314
Treasury stock, at cost, 2022: 5,340,836 shares; 2021: 4,492,514 shares	(269,390)	(194,273)
Accumulated other comprehensive income	3,978	3,699
TOTAL STOCKHOLDERS' EQUITY	1,126,292	929,067
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,440,114	$ 2,112,676

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowances (in dollars)	$ 15,441	$ 13,226
Other accounts receivable, allowances (in dollars)	$ 709	$ 690
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	70,000,000	70,000,000
Common stock, issued shares	29,747,867	29,359,597
Treasury stock, at cost, shares	5,340,836	4,492,514

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
REVENUES	$ 1,351,831	$ 1,016,657	$ 4,079,834	$ 2,794,843
OPERATING EXPENSES	1,236,070	929,096	3,731,799	2,600,792
OPERATING INCOME	115,761	87,561	348,035	194,051
OTHER INCOME (COSTS)
Interest and dividend income	1,147	323	1,614	1,037
Interest and other related financing costs	(1,749)	(2,072)	(5,551)	(6,774)
Other, net	(189)	338	(3,822)	2,641
TOTAL OTHER INCOME (COSTS)	(791)	(1,411)	(7,759)	(3,096)
INCOME BEFORE INCOME TAXES	114,970	86,150	340,276	190,955
INCOME TAX PROVISION	26,128	22,459	79,404	42,922
NET INCOME	$ 88,842	$ 63,691	$ 260,872	$ 148,033
EARNINGS PER COMMON SHARE
Basic	$ 3.61	$ 2.48	$ 10.59	$ 5.79
Diluted	$ 3.50	$ 2.38	$ 10.18	$ 5.51
AVERAGE COMMON SHARES OUTSTANDING
Basic	24,605,228	25,632,805	24,640,706	25,559,642
Diluted	25,372,755	26,770,146	25,626,225	26,872,381

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 88,842	$ 63,691	$ 260,872	$ 148,033
Amortization of unrecognized net periodic benefit costs, net of tax of: (2022 - Three-month period $49, Nine-month period $146; 2021 - Three-month period $35, Nine-month period $104)
Net actuarial gain	(141)	(100)	(422)	(300)
Interest rate swap and foreign currency translation:
Change in unrealized income on interest rate swap, net of tax of: (2022 - Three-month period $206, Nine-month period $844; 2021 - Three-month period $46, Nine-month period $309)	581	128	2,383	869
Change in foreign currency translation, net of tax of: (2022 - Three-month period $509, Nine-month period $595; 2021 - Three-month period $288, Nine-month period $45)	(1,436)	(813)	(1,682)	128
OTHER COMPREHENSIVE INCOME (LOSS), net of tax	(996)	(785)	279	697
TOTAL COMPREHENSIVE INCOME	$ 87,846	$ 62,906	$ 261,151	$ 148,730

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Amortization of unrecognized net periodic benefit credit, tax	$ (49)	$ (35)	$ (146)	$ (104)
Change in unrealized income on interest rate swap, tax	206	46	844	309
Change in foreign currency translation, tax	$ (509)	$ (288)	$ (595)	$ 45

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital Accelerated Share Repurchase Agreement ("ASR")	Additional Paid-In Capital	Retained Earnings	Treasury Stock Existing Share Repurchase Program	Treasury Stock Accelerated Share Repurchase Agreement ("ASR")	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Existing Share Repurchase Program	Accelerated Share Repurchase Agreement ("ASR")	Total
Balances at Dec. 31, 2020	$ 290		$ 342,354	$ 595,932			$ (111,173)	$ 1,190			$ 828,593
Balances (in shares) at Dec. 31, 2020	29,045,000
Balances, Treasury stock (in shares) at Dec. 31, 2020							3,657,000
Increase (Decrease) in Stockholders' Equity
Net income				23,361							23,361
Other comprehensive income (loss), net of tax								804			804
Issuance of common stock under share-based compensation plans	$ 1		(1)
Issuance of common stock under share-based compensation plans (in shares)	12,000
Shares withheld for employee tax remittance on share-based compensation			(165)								(165)
Share-based compensation expense			2,354								2,354
Purchase of treasury stock							$ (1,001)				(1,001)
Purchase of treasury stock (in shares)							15,000
Dividends declared on common stock				(2,037)							(2,037)
Balances at Mar. 31, 2021	$ 291		344,542	617,256			$ (112,174)	1,994			851,909
Balances (in shares) at Mar. 31, 2021	29,057,000
Balances, Treasury stock (in shares) at Mar. 31, 2021							3,672,000
Balances at Dec. 31, 2020	$ 290		342,354	595,932			$ (111,173)	1,190			828,593
Balances (in shares) at Dec. 31, 2020	29,045,000
Balances, Treasury stock (in shares) at Dec. 31, 2020							3,657,000
Increase (Decrease) in Stockholders' Equity
Net income											148,033
Other comprehensive income (loss), net of tax								697			697
Balances at Sep. 30, 2021	$ 294		340,315	737,820			$ (119,273)	1,887			961,043
Balances (in shares) at Sep. 30, 2021	29,352,000
Balances, Treasury stock (in shares) at Sep. 30, 2021							3,783,000
Balances at Dec. 31, 2020	$ 290		342,354	595,932			$ (111,173)	1,190			828,593
Balances (in shares) at Dec. 31, 2020	29,045,000
Balances, Treasury stock (in shares) at Dec. 31, 2020							3,657,000
Increase (Decrease) in Stockholders' Equity
Purchase of treasury stock										$ (75,000)
Balances at Dec. 31, 2021	$ 294		318,033	801,314			$ (194,273)	3,699			$ 929,067
Balances (in shares) at Dec. 31, 2021	29,360,000
Balances, Treasury stock (in shares) at Dec. 31, 2021							4,493,000				4,492,514
Balances at Mar. 31, 2021	$ 291		344,542	617,256			$ (112,174)	1,994			$ 851,909
Balances (in shares) at Mar. 31, 2021	29,057,000
Balances, Treasury stock (in shares) at Mar. 31, 2021							3,672,000
Increase (Decrease) in Stockholders' Equity
Net income				60,981							60,981
Other comprehensive income (loss), net of tax								678			678
Issuance of common stock under share-based compensation plans	$ 2		(2)
Issuance of common stock under share-based compensation plans (in shares)	261,000
Shares withheld for employee tax remittance on share-based compensation			(9,601)								(9,601)
Share-based compensation expense			3,324								3,324
Purchase of treasury stock							$ (7,099)				(7,099)
Purchase of treasury stock (in shares)							111,000
Dividends declared on common stock				(2,058)							(2,058)
Balances at Jun. 30, 2021	$ 293		338,263	676,179			$ (119,273)	2,672			898,134
Balances (in shares) at Jun. 30, 2021	29,318,000
Balances, Treasury stock (in shares) at Jun. 30, 2021							3,783,000
Increase (Decrease) in Stockholders' Equity
Net income				63,691							63,691
Other comprehensive income (loss), net of tax								(785)			(785)
Issuance of common stock under share-based compensation plans	$ 1		(1)
Issuance of common stock under share-based compensation plans (in shares)	34,000
Shares withheld for employee tax remittance on share-based compensation			(836)								(836)
Share-based compensation expense			2,889								2,889
Dividends declared on common stock				(2,050)							(2,050)
Balances at Sep. 30, 2021	$ 294		340,315	737,820			$ (119,273)	1,887			961,043
Balances (in shares) at Sep. 30, 2021	29,352,000
Balances, Treasury stock (in shares) at Sep. 30, 2021							3,783,000
Balances at Dec. 31, 2021	$ 294		318,033	801,314			$ (194,273)	3,699			$ 929,067
Balances (in shares) at Dec. 31, 2021	29,360,000
Balances, Treasury stock (in shares) at Dec. 31, 2021							4,493,000				4,492,514
Increase (Decrease) in Stockholders' Equity
Net income				69,569							$ 69,569
Other comprehensive income (loss), net of tax								1,624			1,624
Issuance of common stock under share-based compensation plans (in shares)	25,000
Shares withheld for employee tax remittance on share-based compensation			(1,367)								(1,367)
Share-based compensation expense			2,763								2,763
Purchase of treasury stock					$ (16,506)				$ (16,506)
Purchase of treasury stock (in shares)					194,000
Forward contract for accelerated share repurchase		$ 25,000				$ (25,000)
Forward contract for accelerated share repurchase (in shares)						214,000
Dividends declared on common stock				(1,978)							(1,978)
Balances at Mar. 31, 2022	$ 294		344,429	868,905			$ (235,779)	5,323			983,172
Balances (in shares) at Mar. 31, 2022	29,385,000
Balances, Treasury stock (in shares) at Mar. 31, 2022							4,901,000
Balances at Dec. 31, 2021	$ 294		318,033	801,314			$ (194,273)	3,699			$ 929,067
Balances (in shares) at Dec. 31, 2021	29,360,000
Balances, Treasury stock (in shares) at Dec. 31, 2021							4,493,000				4,492,514
Increase (Decrease) in Stockholders' Equity
Net income											$ 260,872
Other comprehensive income (loss), net of tax								279			279
Purchase of treasury stock										$ (25,000)
Purchase of treasury stock (in shares)										214,763
Balances at Sep. 30, 2022	$ 297		337,113	1,054,294			$ (269,390)	3,978			$ 1,126,292
Balances (in shares) at Sep. 30, 2022	29,748,000
Balances, Treasury stock (in shares) at Sep. 30, 2022							5,341,000				5,340,836
Balances at Mar. 31, 2022	$ 294		344,429	868,905			$ (235,779)	5,323			$ 983,172
Balances (in shares) at Mar. 31, 2022	29,385,000
Balances, Treasury stock (in shares) at Mar. 31, 2022							4,901,000
Increase (Decrease) in Stockholders' Equity
Net income				102,461							102,461
Other comprehensive income (loss), net of tax								(349)			(349)
Issuance of common stock under share-based compensation plans	$ 2		(2)
Issuance of common stock under share-based compensation plans (in shares)	230,000
Shares withheld for employee tax remittance on share-based compensation			(8,270)								(8,270)
Share-based compensation expense			3,878								3,878
Purchase of treasury stock							$ (14,731)				(14,731)
Purchase of treasury stock (in shares)							208,000
Dividends declared on common stock				(2,949)							(2,949)
Balances at Jun. 30, 2022	$ 296		340,035	968,417			$ (250,510)	4,974			1,063,212
Balances (in shares) at Jun. 30, 2022	29,615,000
Balances, Treasury stock (in shares) at Jun. 30, 2022							5,109,000
Increase (Decrease) in Stockholders' Equity
Net income				88,842							88,842
Other comprehensive income (loss), net of tax								(996)			(996)
Issuance of common stock under share-based compensation plans	$ 1		(1)
Issuance of common stock under share-based compensation plans (in shares)	133,000
Shares withheld for employee tax remittance on share-based compensation			(6,096)								(6,096)
Share-based compensation expense			3,175								3,175
Purchase of treasury stock							$ (18,880)				(18,880)
Purchase of treasury stock (in shares)							232,000
Dividends declared on common stock				(2,965)							(2,965)
Balances at Sep. 30, 2022	$ 297		$ 337,113	$ 1,054,294			$ (269,390)	$ 3,978			$ 1,126,292
Balances (in shares) at Sep. 30, 2022	29,748,000
Balances, Treasury stock (in shares) at Sep. 30, 2022							5,341,000				5,340,836

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net income	$ 260,872	$ 148,033
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	95,169	88,113
Amortization of intangibles	9,691	2,882
Share-based compensation expense	9,816	8,567
Provision for losses on accounts receivable	5,065	(57)
Change in deferred income taxes	3,745	(8,593)
Gain on sale of property and equipment	(9,759)	(8,389)
Gain on sale of subsidiary	(402)	(6,923)
Changes in operating assets and liabilities:
Receivables	(54,889)	(103,886)
Prepaid expenses	7,550	7,655
Other assets	287	539
Income taxes	(11,068)	8,174
Operating right-of-use assets and lease liabilities, net	1,579	650
Accounts payable, accrued expenses, and other liabilities	32,793	101,577
NET CASH PROVIDED BY OPERATING ACTIVITIES	350,449	238,342
INVESTING ACTIVITIES
Purchases of property, plant and equipment, net of financings	(76,068)	(43,506)
Proceeds from sale of property and equipment	13,938	11,509
Proceeds from sale of subsidiary	475	9,013
Purchases of short-term investments	(145,254)	(56,011)
Proceeds from sale of short-term investments	48,161	61,174
Capitalization of internally developed software	(13,922)	(14,308)
Business acquisition, net of cash acquired	2,279
NET CASH USED IN INVESTING ACTIVITIES	(170,391)	(32,129)
FINANCING ACTIVITIES
Borrowings under credit facilities	58,000
Proceeds from notes payable	12,113
Payments on long-term debt	(99,567)	(76,513)
Net change in book overdrafts	2,102	(305)
Deferred financing costs	(53)	(295)
Payment of common stock dividends	(7,892)	(6,145)
Purchases of treasury stock	(50,117)	(8,100)
Payments for tax withheld on share-based compensation	(15,733)	(10,602)
NET CASH USED IN FINANCING ACTIVITIES	(101,147)	(101,960)
NET INCREASE IN CASH AND CASH EQUIVALENTS	78,911	104,253
Cash and cash equivalents at beginning of period	76,620	303,954
CASH AND CASH EQUIVALENTS AT END OF PERIOD	155,531	408,207
NONCASH INVESTING ACTIVITIES
Equipment financed	57,241	36,731
Accruals for equipment received	5,587	3,158
Lease liabilities arising from obtaining right-of-use assets	$ 78,324	$ 7,280

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION	9 Months Ended
	Sep. 30, 2022
ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION
ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION	NOTE A – ORGANIZATIO N AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION ​ ArcBest Corporation ™ ​ The Asset-Based segment represented approximately 55% of the Company’s total revenues before other revenues and intercompany eliminations for the nine months ended September 30, 2022. As of September 2022, approximately 82% of the Asset-Based segment’s employees were covered under a collective bargaining agreement, the ABF National Master Freight Agreement (the “2018 ABF NMFA”), with the International Brotherhood of Teamsters (the “IBT”), which will remain in effect through June 30, 2023. ​ On November 1, 2021, the Company acquired MoLo Solutions, LLC (“MoLo”). As a result of the acquisition, MoLo ® ​ Financial Statement Presentation ​ The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. Accordingly, these interim financial statements do not include all information or footnote disclosures required by accounting principles generally accepted in the United States for complete financial statements and, therefore, should be read in conjunction with the audited financial statements and accompanying notes included in the Company’s 2021 Annual Report on Form 10-K and other current filings with the SEC. In the opinion of management, all adjustments (which are of a normal and recurring nature) considered necessary for a fair presentation have been included. ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual amounts may differ from those estimates. ​ Accounting Pronouncements Not Yet Adopted ​ Management believes there is no new accounting guidance issued but not yet effective that would have a material impact to the Company’s current financial statements. ​

FINANCIAL INSTRUMENTS AND FAIR

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	NOTE B – FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS ​ Financial Instruments ​ The following table presents the components of cash and cash equivalents and short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 December 31 ​ ​ 2022 ​ 2021 ​ ​ (in thousands) ​ Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ Cash deposits (1) ​ $ 123,612 ​ $ 72,790 ​ Variable rate demand notes (1)(2) ​ 19,150 ​ 230 ​ Money market funds (3) ​ 12,769 ​ 3,600 ​ Total cash and cash equivalents ​ $ 155,531 ​ $ 76,620 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term investments ​ ​ ​ ​ ​ ​ ​ Certificates of deposit (1) ​ $ 76,652 ​ $ 48,339 ​ U.S. Treasury securities (4) ​ ​ 69,106 ​ ​ — ​ Total short-term investments ​ $ 145,758 ​ $ 48,339 ​ ​ (1) Recorded at cost plus accrued interest, which approximates fair value. (2) Amounts may be redeemed on a daily basis with the original issuer. (3) Recorded at fair value as determined by quoted market prices (see amounts presented in the table of financial assets and liabilities measured at fair value within this Note). (4) Recorded at amortized cost plus accrued interest, which approximates fair value. U.S. Treasury securities included in short-term investments are held-to-maturity investments with maturity dates of less than one year. ​ The Company’s long-term financial instruments are presented in the table of financial assets and liabilities measured at fair value within this Note. ​ Concentrations of Credit Risk of Financial Instruments The Company is potentially subject to concentrations of credit risk related to its cash, cash equivalents, and short-term investments. The Company reduces credit risk by maintaining its cash deposits and short-term investments in accounts and certificates of deposit which are primarily FDIC-insured, or in direct obligations of the U.S. government. However, certain cash deposits and certificates of deposit may exceed federally insured limits. At September 30, 2022 and December 31, 2021, cash, cash equivalents, and short-term investments totaling $121.9 million and $42.6 million, respectively, were neither FDIC insured nor direct obligations of the U.S. government. ​ Fair Value Disclosure of Financial Instruments Fair value disclosures are made in accordance with the following hierarchy of valuation techniques based on whether the inputs of market data and market assumptions used to measure fair value are observable or unobservable: ​ ● Level 1 — Quoted prices for identical assets and liabilities in active markets. ● Level 2 — Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. ● Level 3 — Unobservable inputs (Company’s market assumptions) that are significant to the valuation model. ​ Fair value and carrying value disclosures of financial instruments are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ ​ ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ ​ ​ Value ​ Value ​ Value ​ Value ​ Credit Facility (1) ​ $ 50,000 ​ $ 50,000 ​ $ 50,000 ​ $ 50,000 ​ Notes payable (2) ​ 203,319 ​ 194,138 ​ 175,530 ​ 175,937 ​ New England Pension Fund withdrawal liability (3) ​ ​ 20,270 ​ ​ 19,149 ​ ​ 20,769 ​ ​ 23,521 ​ ​ ​ $ 273,589 ​ $ 263,287 ​ $ 246,299 ​ $ 249,458 ​ ​ (1) The revolving credit facility (the “Credit Facility”) carries a variable interest rate based on LIBOR, plus a margin, that is considered to be priced at market for debt instruments having similar terms and collateral requirements (Level 2 of the fair value hierarchy). (2) Fair value of the notes payable was determined using a present value income approach based on quoted interest rates from lending institutions with which the Company would enter into similar transactions (Level 2 of the fair value hierarchy). (3) ABF Freight’s multiemployer pension plan obligation with the New England Teamsters and Trucking Industry Pension Fund (the “New England Pension Fund”) was restructured under a transition agreement effective on August 1, 2018, which resulted in a related withdrawal liability. The fair value of the outstanding withdrawal liability is equal to the present value of the future withdrawal liability payments, discounted at an interest rate of 5.2% and 3.1% at September 30, 2022 and December 31, 2021, respectively, determined using the 20-year U.S. Treasury rate plus a spread (Level 2 of the fair value hierarchy). As of September 30, 2022, the outstanding withdrawal liability totaled $20.3 million, of which $0.7 million and $19.6 million was recorded in accrued expenses and the other long-term liabilities, respectively. ​ Assets and Liabilities Measured at Fair Value on a Recurring Basis ​ The following table presents the assets and liabilities that are measured at fair value on a recurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ ​ ​ ​ ​ Quoted Prices Significant Significant ​ ​ ​ ​ ​ In Active ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Markets ​ Inputs ​ Inputs ​ ​ ​ Total (Level 1) (Level 2) (Level 3) ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds (1) ​ $ 12,769 ​ $ 12,769 ​ $ — ​ $ — ​ Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan (2) ​ 3,620 ​ 3,620 ​ — ​ — ​ Interest rate swaps (3) ​ ​ 3,646 ​ ​ — ​ ​ 3,646 ​ ​ — ​ ​ ​ $ 20,035 ​ $ 16,389 ​ $ 3,646 ​ $ — ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (4) ​ ​ 94,510 ​ ​ — ​ ​ — ​ ​ 94,510 ​ ​ ​ $ 94,510 ​ $ — ​ $ — ​ $ 94,510 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ ​ ​ ​ ​ Quoted Prices Significant Significant ​ ​ ​ ​ ​ In Active ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Markets ​ Inputs ​ Inputs ​ ​ ​ Total (Level 1) (Level 2) (Level 3) ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds (1) ​ $ 3,600 ​ $ 3,600 ​ $ — ​ $ — ​ Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan (2) ​ 3,848 ​ 3,848 ​ — ​ — ​ Interest rate swaps (3) ​ ​ 874 ​ ​ — ​ ​ 874 ​ ​ — ​ ​ ​ $ 8,322 ​ $ 7,448 ​ $ 874 ​ $ — ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (3) ​ $ 455 ​ $ — ​ $ 455 ​ $ — ​ Contingent consideration (4) ​ ​ 93,700 ​ ​ — ​ ​ — ​ ​ 93,700 ​ ​ ​ $ 94,155 ​ $ — ​ $ 455 ​ $ 93,700 ​ ​ (1) Included in cash and cash equivalents. (2) Nonqualified deferred compensation plan investments consist of U.S. and international equity mutual funds, government and corporate bond mutual funds, and money market funds which are held in a trust with a third-party brokerage firm. Included in other long-term assets, with a corresponding liability reported within other long-term liabilities. (3) Included in other long-term assets or other long-term liabilities. The fair values of the interest rate swaps were determined by discounting future cash flows and receipts based on expected interest rates observed in market interest rate curves adjusted for estimated credit valuation considerations reflecting nonperformance risk of the Company and the counterparty, which are generally considered to be in Level 3 of the fair value hierarchy. However, the Company assessed Level 3 inputs as insignificant to the valuation at September 30, 2022 and December 31, 2021 and considers the interest rate swap valuations in Level 2 of the fair value hierarchy. (4) Included in other long-term liabilities, based on when expected payouts become due. The estimated fair value of contingent consideration for the earn-out agreement related to the November 2021 acquisition of MoLo was determined by assessing Level 3 inputs. The Level 3 assessments utilize a Monte Carlo simulation with inputs including scenarios of estimated revenues and earnings before interest, taxes, depreciation and amortization to be achieved for the applicable performance periods, volatility factors applied to the simulations, and the discount rate applied, which was 10.6% and 9.0% as of September 30, 2022 and December 31, 2021, respectively. Changes in the significant unobservable inputs might result in a significantly higher or lower fair value at the reporting date. ​ The following table provides the changes in fair value of the liabilities measured at fair value using inputs categorized in Level 3 of the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ Contingent Consideration ​ ​ ​ (in thousands) ​ Balances at December 31, 2021 ​ $ 93,700 ​ Change in fair value included in operating income ​ ​ 810 ​ Balances at September 30, 2022 ​ $ 94,510 ​ ​

ACQUISITION

ACQUISITION	9 Months Ended
	Sep. 30, 2022
ACQUISITION.
ACQUISITION	NOTE C – ACQUISITION ​ On November 1, 2021 (the “acquisition date”), the Company acquired MoLo Solutions, LLC (“MoLo”), a Chicago-based truckload freight brokerage company, pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated September 29, 2021. As of September 30, 2022, net cash consideration related to the transaction totaled $235.8 million, which is subject to certain post-closing adjustments. The Company funded the initial purchase price with cash on hand on November 1, 2021, and received $2.3 million from escrow related to certain post-closing adjustments during the nine months ended September 30, 2022, which is reported in the accompanying consolidated statements of cash flows as business acquisition, net of cash acquired. The Merger Agreement provides for certain additional cash consideration to be paid by the Company based on the achievement of certain incremental targets of adjusted earnings before interest, taxes, depreciation and amortization for each of the years ended December 31, 2023, 2024, and 2025. At 100% of the target, the cumulative additional consideration for years 2023 through 2025 would be $215.0 million, with the possible undiscounted cash consideration due ranging from a total of $95.0 million at 80% of target to $455.0 million at 300% of target, as outlined in the Merger Agreement. ​ The following table represents the components of the total purchase consideration for the acquisition of MoLo. The Company recorded the estimated fair value of the contingent consideration at the acquisition date as a part of the purchase price consideration for the acquisition. The purchase consideration is preliminary and is dependent on final post-closing adjustments and finalization of working capital balances. ​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ ​ ​ Consideration ​ ​ ​ (in thousands) ​ Net cash consideration, including estimated post-closing adjustments ​ $ 235,751 ​ Contingent consideration ​ ​ 93,700 ​ Total purchase consideration ​ $ 329,451 ​ ​ The results of MoLo’s operations subsequent to the acquisition date have been included in the accompanying consolidated financial statements, with the acquired operations included within the ArcBest operating segment (see Note K). The acquisition of MoLo enhances the scale of the Company’s truckload brokerage services by providing additional truckload capacity, support, and expertise in the Company’s Asset-Light operations and increasing cross-selling potential. ​ The following table summarizes the estimated fair values of the acquired assets and liabilities assumed at the acquisition date, including measurement period adjustments related to working capital. The Company is in the process of making a final determination of acquired assets and liabilities, with remaining matters primarily related to finalization of working capital balances, and thus, the provisional measurements are subject to change. ​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ Allocation ​ ​ (in thousands) Accounts receivable ​ $ 130,206 ​ Prepaid expenses ​ 468 ​ Property and equipment ​ 2,309 ​ Operating lease right-of-use assets ​ 844 ​ Intangible assets ​ 76,900 ​ Other assets ​ 170 ​ Total identifiable assets acquired ​ 210,897 ​ ​ ​ ​ ​ ​ Accounts payable ​ 97,199 ​ Accrued expenses and other current liabilities ​ 4,148 ​ Operating lease liabilities ​ 983 ​ Total liabilities ​ 102,330 ​ ​ ​ ​ ​ ​ Total identifiable net assets ​ 108,567 ​ Goodwill ​ 220,884 ​ Net assets acquired ​ $ 329,451 ​ ​ The MoLo acquisition has been accounted for as a business combination using the acquisition method of accounting. The total purchase consideration to acquire MoLo has been allocated to the assets acquired and liabilities assumed as of November 1, 2021, with the excess purchase price recorded as goodwill. See Note D for further discussion of acquired goodwill and intangible assets.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE D – GOODWILL AND INTANGIBLE ASSETS ​ Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired. Goodwill by reportable segment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ArcBest FleetNet ​ ​ (in thousands) Balances at December 31, 2021 $ 300,337 ​ $ 299,707 ​ $ 630 ​ Purchase accounting adjustments (1) ​ ​ 6,915 ​ ​ 6,915 ​ ​ — ​ Balances at September 30, 2022 $ 307,252 $ 306,622 $ 630 (1) As noted in Note C, purchase accounting adjustments related to the MoLo acquisition represent adjustments to the acquired balance of working capital, and goodwill related to the November 1, 2021 acquisition of MoLo is based on preliminary information as of September 30, 2022. ​ Intangible assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ Weighted-Average ​ ​ ​ ​ Accumulated ​ Net ​ ​ ​ ​ Accumulated ​ Net ​ Amortization Period Cost Amortization Value ​ Cost Amortization Value ​ ​ (in years) ​ (in thousands) ​ (in thousands) Finite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships 12 ​ $ 100,321 ​ $ 41,489 ​ $ 58,832 ​ $ 100,321 ​ $ 35,072 ​ $ 65,249 ​ Other ​ 8 ​ ​ 30,368 ​ ​ 4,578 ​ ​ 25,790 ​ ​ 30,335 ​ ​ 1,304 ​ ​ 29,031 ​ ​ 11 ​ 130,689 ​ 46,067 ​ 84,622 ​ ​ 130,656 ​ 36,376 ​ 94,280 ​ Indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade name N/A ​ 32,300 ​ N/A ​ 32,300 ​ ​ 32,300 ​ N/A ​ 32,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total intangible assets N/A ​ $ 162,989 ​ $ 46,067 ​ $ 116,922 ​ $ 162,956 ​ $ 36,376 ​ $ 126,580 ​ ​ ​ The future amortization for intangible assets acquired through business acquisitions as of September 30, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ Amortization of ​ ​ Intangible Assets ​ ​ (in thousands) ​ Remainder of 2022 ​ $ 3,229 ​ 2023 ​ 12,826 ​ 2024 ​ 12,793 ​ 2025 ​ 12,778 ​ 2026 ​ ​ 8,671 ​ Thereafter ​ ​ 34,325 ​ Total amortization ​ $ 84,622 ​ ​

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
INCOME TAXES
INCOME TAXES	NOTE E – INCOME TAXES ​ The effective tax rate was 22.7% and 23.3% for the three and nine months ended September 30, 2022, respectively, compared to 26.1% and 22.5% for the same periods of 2021. State tax rates vary among states and average approximately 6.0% to 6.5%, although some state rates are higher and a small number of states do not impose an income tax. ​ For the three and nine months ended September 30, 2022 and 2021, the difference between the Company’s effective tax rate and the federal statutory rate primarily resulted from state income taxes, nondeductible expenses, changes in the cash surrender value of life insurance, federal research and development tax credits, changes in tax valuation allowances, and tax benefit from the vesting of stock awards. The Company’s effective tax rate for the three and nine months ended September 30, 2022 was also impacted by the reinstatement of the federal alternative fuel tax credit. ​ As of September 30, 2022, the Company’s deferred tax liabilities, which will reverse in future years, exceeded the deferred tax assets. The Company evaluated the total deferred tax assets at September 30, 2022 and concluded that, other than for certain deferred tax assets related to foreign and state tax credit carryforwards and state net operating losses, the assets did not exceed the amount for which realization is more likely than not. In making this determination, the Company considered the future reversal of existing taxable temporary differences, future taxable income, and tax planning strategies. Valuation allowances for deferred tax assets totaled $2.4 million and $2.2 million at September 30, 2022 and December 31, 2021, respectively. ​ The Company paid federal, state, and foreign income taxes of $87.5 million and $43.0 million during the nine months ended September 30, 2022 and 2021, respectively. The Company received refunds of federal and state income taxes that were paid in prior years of $1.2 million and less than $0.1 million during the nine months ended September 30, 2022 and 2021, respectively. ​

LEASES

LEASES	9 Months Ended
	Sep. 30, 2022
LEASES
LEASES	NOTE F – LEASES ​ The Company leases, under finance and operating lease arrangements, certain facilities used primarily in the Asset-Based segment service center operations, certain revenue equipment used in the ArcBest segment operations, and certain other office equipment. ​ The components of operating lease expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30 ​ September 30 ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Operating lease expense ​ $ 8,666 ​ $ 6,575 ​ $ 23,116 ​ $ 19,801 ​ Variable lease expense ​ ​ 1,176 ​ ​ 957 ​ ​ 3,220 ​ ​ 3,252 ​ Sublease income ​ ​ (286) ​ ​ (157) ​ ​ (544) ​ ​ (468) ​ Total operating lease expense (1) ​ $ 9,556 ​ $ 7,375 ​ $ 25,792 ​ $ 22,585 ​ (1) Operating lease expense excludes short-term leases with a term of 12 months or less. ​ The operating cash flows from operating lease activity were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30 ​ ​ 2022 ​ 2021 ​ ​ (in thousands) Noncash change in operating right-of-use assets ​ $ 20,356 ​ $ 17,256 ​ Change in operating lease liabilities ​ ​ (18,777) ​ ​ (16,606) ​ Operating right-of-use-assets and lease liabilities, net ​ $ 1,579 ​ $ 650 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities ​ $ (21,526) ​ $ (19,128) ​ ​ Maturities of operating lease liabilities at September 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equipment ​ ​ ​ ​ ​ ​ Land and ​ and ​ ​ Total Structures (1) Other ​ (in thousands) ​ Remainder of 2022 ​ $ 7,277 ​ $ 7,178 ​ $ 99 ​ 2023 ​ 30,182 ​ 29,760 ​ 422 ​ 2024 ​ 28,601 ​ 28,302 ​ 299 ​ 2025 ​ 24,856 ​ 24,856 ​ — ​ 2026 ​ 22,616 ​ 22,616 ​ — ​ Thereafter ​ 83,884 ​ 83,884 ​ — ​ Total lease payments ​ ​ 197,416 ​ ​ 196,596 ​ ​ 820 ​ Less imputed interest ​ ​ (26,596) ​ ​ (26,563) ​ ​ (33) ​ Total ​ $ 170,820 ​ $ 170,033 ​ $ 787 ​ (1) Excludes future minimum lease payments for leases which were executed but had not yet commenced as of September 30, 2022 totaling $41.1 million which will be paid over approximately 10 years .

LONG-TERM DEBT AND FINANCING AR

LONG-TERM DEBT AND FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2022
LONG-TERM DEBT AND FINANCING ARRANGEMENTS
LONG-TERM DEBT AND FINANCING ARRANGEMENTS	NOTE G – LONG-TERM DEBT AND FINANCING ARRANGEMENTS ​ Long-Term Debt Obligations ​ Long-term debt consisted of borrowings outstanding under the Company’s revolving credit facility which is further described in Financing Arrangements within this Note, and notes payable and finance lease obligations related to the financing of revenue equipment (tractors and trailers used primarily in Asset-Based segment operations), certain other equipment, and software as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ Credit Facility (interest rate of 4.2% (1) ​ $ 50,000 ​ $ 50,000 ​ Notes payable (weighted-average interest rate of 3.0% at September 30, 2022) ​ 203,319 ​ 175,530 ​ Finance lease obligations ​ — ​ 2 ​ ​ ​ 253,319 ​ 225,532 ​ Less current portion ​ 63,521 ​ 50,615 ​ Long-term debt, less current portion ​ $ 189,798 ​ $ 174,917 ​ ​ (1) The interest rate swap mitigates interest rate risk by effectively converting the $50.0 million of borrowings under the Credit Facility from variable-rate interest to fixed-rate interest with a per annum rate of 1.56% and 3.12% based on the margin of the Credit Facility as of September 30, 2022 and December 31, 2021, respectively. ​ ​ Scheduled maturities of long-term debt obligations as of September 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit ​ Notes ​ ​ Total Facility (1) Payable ​ (in thousands) ​ Due in one year or less $ 71,428 $ 2,754 $ 68,674 ​ Due after one year through two years ​ 62,723 ​ 2,638 ​ 60,085 ​ Due after two years through three years ​ 94,012 ​ 50,000 ​ 44,012 ​ Due after three years through four years ​ 27,888 ​ — ​ 27,888 ​ Due after four years through five years ​ 14,421 ​ — ​ 14,421 ​ Due after five years ​ ​ 379 ​ ​ — ​ ​ 379 ​ Total payments ​ 270,851 ​ 55,392 ​ 215,459 ​ Less amounts representing interest ​ 17,532 ​ 5,392 ​ 12,140 ​ Long-term debt $ 253,319 $ 50,000 $ 203,319 ​ (1) The future interest payments included in the scheduled maturities due are calculated using variable interest rates based on the LIBOR swap curve, plus the anticipated applicable margin. ​ Assets securing notes payable or held under finance leases were included in property, plant and equipment as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) Revenue equipment $ 274,540 $ 241,892 ​ Service, office, and other equipment ​ ​ 39,428 ​ ​ 29,773 ​ Total assets securing notes payable or held under finance leases ​ 313,968 ​ 271,665 ​ Less accumulated depreciation and amortization (1) ​ 106,769 ​ 88,696 ​ Net assets securing notes payable or held under finance leases ​ $ 207,199 ​ $ 182,969 ​ ​ ​ (1) Amortization of assets held under finance leases and depreciation of assets securing notes payable are included in depreciation expense. ​ Financing Arrangements ​ Credit Facility As of September 30, 2022, the Company had a revolving credit facility (the “Credit Facility”) under its Third Amended and Restated Credit Agreement (the “Credit Agreement”) with a scheduled maturity date of October 1, 2024. The Credit Facility had an initial maximum credit amount of $250.0 million, including a swing line facility in an aggregate amount of up to $25.0 million and a letter of credit sub-facility providing for the issuance of letters of credit up to an aggregate amount of $20.0 million. The Company could request additional revolving commitments or incremental term loans thereunder up to an aggregate amount of $125.0 million, subject to certain additional conditions as provided in the Credit Agreement. The Company borrowed $58.0 million under the Credit Facility in the first quarter of 2022, and repaid $20.0 million and $38.0 million of the borrowings during the three months ended March 31, 2022 and June 30, 2022, respectively. As of September 30, 2022, the Company had available borrowing capacity of $200.0 million under the initial maximum credit amount of the Credit Facility. ​ Principal payments under the Credit Facility are due upon maturity of the facility; however, borrowings may be repaid, at the Company’s discretion, in whole or in part at any time, without penalty, subject to required notice periods and compliance with minimum prepayment amounts. The Credit Agreement contains conditions, representations and warranties, events of default, and indemnification provisions that are customary for financings of this type, including, but not limited to, a minimum interest coverage ratio, a maximum adjusted leverage ratio, and limitations on incurrence of debt, investments, liens on assets, certain sale and leaseback transactions, transactions with affiliates, mergers, consolidations, purchases and sales of assets, and certain restricted payments. The Company was in compliance with the covenants under the Credit Agreement at September 30, 2022. ​ On October 7, 2022, the Company amended and restated the Credit Facility under the Fourth Amended and Restated Credit Agreement to, among other things, increase the aggregate amount of the swing line facility from $25.0 million to $40.0 million, extend the maturity of the Credit Facility to October 7, 2027, replace LIBOR-based interest pricing conventions with interest pricing based on the Secured Overnight Financing Rate (“SOFR”), release the liens on the assets of the Company and certain subsidiaries, and release pledges of equity interests in certain subsidiaries. ​ Interest Rate Swaps The Company has an interest rate swap agreement with a $50.0 million notional amount, which started on June 30, 2022 and will end on October 1, 2024. The Company received floating-rate interest amounts based on one-month LIBOR in exchange for fixed-rate interest payments of 0.43% beginning on June 30, 2022 throughout the term of the agreement. The interest rate swap agreement effectively converted $50.0 million of borrowings under the Credit Facility from variable-rate interest to fixed-rate interest with a per annum rate of 1.56% based on the margin of the Credit Facility as of September 30, 2022. The fair value of the interest rate swap of $3.6 million and $0.9 million was recorded in other long-term assets at September 30, 2022 and December 31, 2021, respectively. ​ On October 18, 2022, the Company amended its $50.0 million notional amount interest rate swap agreement to replace LIBOR-based interest pricing conventions with interest pricing based on the SOFR. Under the amended interest rate swap agreement, the Company will receive a variable floating rate based on one-month SOFR in exchange for fixed-rate interest payments of 0.33% throughout the remaining term of the agreement. The amendment effectively converts the first $50.0 million borrowed under the Credit Facility to fixed-rate debt with a fixed-rate per annum of 1.55% based on the margin of our Credit Facility as of September 30, 2022. ​ The Company had an interest rate swap agreement with a $50.0 million notional amount which started on January 2, 2020 and matured on June 30, 2022. The fair value of the interest rate swap of $0.5 million was recorded in other long-term liabilities at December 31, 2021. ​ The unrealized gain on the interest rate swap instruments in effect at the balance sheet date was reported as a component of accumulated other comprehensive income, net of tax, in stockholders’ equity at September 30, 2022 and December 31, 2021, and the change in the unrealized gain on the interest rate swaps for the three and nine months ended September 30, 2022 and 2021 was reported in other comprehensive income (loss), net of tax, in the consolidated statements of comprehensive income. The interest rate swaps are subject to certain customary provisions that could allow the counterparty to request immediate settlement of the fair value liability or asset upon violation of any or all of the provisions. The Company was in compliance with all provisions of the interest rate swap agreement at September 30, 2022. ​ Accounts Receivable Securitization Program The Company’s accounts receivable securitization program, which matures on July 1, 2024, provides available cash proceeds of $50.0 million to be provided under the program and has an accordion feature allowing the Company to request additional borrowings up to $100.0 million, subject to certain conditions. In May 2022, the Company amended its accounts receivable securitization program to, among other things, increase certain ratios, including the delinquency, default, and accounts receivable turnover ratios, as defined in the agreement; add language addressing the potential inclusion of receivables originated by MoLo; and replace LIBOR-based interest pricing conventions with interest pricing based on the SOFR. The program ratios were adjusted to accommodate revenue growth and customer demand for integrated logistics solutions, which has resulted in an increased proportion of total revenues generated by the Company’s Asset-Light operations and, as a result, longer collection periods on the Company’s accounts receivable, as are typical for Asset-Light businesses. ​ Under this program, certain subsidiaries of the Company continuously sell a designated pool of trade accounts receivables to a wholly owned subsidiary which, in turn, may borrow funds on a revolving basis. This wholly owned consolidated subsidiary is a separate bankruptcy-remote entity, and its assets would be available only to satisfy the claims related to the lenders’ interest in the trade accounts receivables. Borrowings under the amended accounts receivable securitization program bear interest based upon SOFR, plus a margin, and an annual facility fee. The securitization agreement contains representations and warranties, affirmative and negative covenants, and events of default that are customary for financings of this type, including a maximum adjusted leverage ratio covenant. The Company was in compliance with the covenants under the accounts receivable securitization program at September 30, 2022. ​ The accounts receivable securitization program includes a provision under which the Company may request, and the letter of credit issuer may issue standby letters of credit, primarily in support of workers’ compensation and third-party casualty claims liabilities in various states in which the Company is self-insured. The outstanding standby letters of credit reduce the availability of borrowings under the program. As of September 30, 2022, standby letters of credit of $10.0 million have been issued under the program, which reduced the available borrowing capacity to $40.0 million. ​ Letter of Credit Agreements and Surety Bond Programs As of September 30, 2022, the Company had letters of credit outstanding of $10.6 million (including $10.0 million issued under the accounts receivable securitization program). The Company has programs in place with multiple surety companies for the issuance of surety bonds in support of its self-insurance program. As of September 30, 2022, surety bonds outstanding related to the self-insurance program totaled $62.6 million. ​ Notes Payable The Company has financed the purchase of certain revenue equipment, other equipment, and software through promissory note arrangements. During the three and nine months ended September 30, 2022, the Company entered into notes payable arrangements, primarily for revenue equipment, totaling $42.6 million and $69.4 million, respectively.

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	9 Months Ended
	Sep. 30, 2022
POSTRETIREMENT BENEFIT PLANS
POSTRETIREMENT BENEFIT PLANS	NOTE H – POSTRETIREMENT BENEFIT PLANS ​ Supplemental Benefit and Postretirement Health Benefit Plans ​ The following is a summary of the components of net periodic benefit cost (credit): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30 ​ ​ ​ Supplemental ​ Postretirement ​ ​ ​ Benefit Plan ​ Health Benefit Plan ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Service cost ​ $ — ​ $ — ​ $ 39 ​ $ 48 ​ Interest cost ​ 2 ​ 1 ​ 111 ​ 107 ​ Amortization of net actuarial (gain) loss (1) ​ 2 ​ 2 ​ (192) ​ (137) ​ Net periodic benefit cost (credit) (2) ​ $ 4 ​ $ 3 ​ $ (42) ​ $ 18 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30 ​ ​ ​ Supplemental ​ Postretirement ​ ​ ​ Benefit Plan ​ Health Benefit Plan ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Service cost ​ $ — ​ $ — ​ $ 117 ​ $ 144 ​ Interest cost ​ 5 ​ 3 ​ 331 ​ 321 ​ Amortization of net actuarial (gain) loss (1) ​ 6 ​ 7 ​ (574) ​ (411) ​ Net periodic benefit cost (credit) (2) ​ $ 11 ​ $ 10 ​ $ (126) ​ $ 54 ​ (1) The Company amortizes actuarial gains and losses over the average remaining active service period of the plan participants and does not use a corridor approach. (2) Service cost is reported within operating expenses and the other components of net periodic benefit cost are reported within the other line item of other income (costs). ​ ​ Multiemployer Plans ​ ABF Freight System, Inc. and certain other subsidiaries reported in the Company’s Asset-Based operating segment (“ABF Freight”) contribute to multiemployer pension and health and welfare plans, which have been established pursuant to the Taft-Hartley Act, to provide benefits for its contractual employees. The 25 multiemployer pension plans to which ABF Freight contributes vary greatly in size and in funded status. Contributions to these plans are based generally on the time worked by ABF Freight’s contractual employees at rates specified in the 2018 ABF NMFA and other related supplemental agreements. ABF Freight recognizes as expense the contractually required contributions for each period and recognizes as a liability any contributions due and unpaid. The funding obligations to the multiemployer pension plans are intended to satisfy the requirements imposed by the Pension Protection Act of 2006, which was permanently extended by the Multiemployer Pension Reform Act (the “Reform Act”) included in the Consolidated and Further Continuing Appropriations Act of 2015. ​ On March 11, 2021, H.R.1319, the American Rescue Plan Act of 2021 Butch Lewis Emergency Pension Plan Relief Act of 2021 ​ On July 9, 2021, the PBGC announced an interim final rule implementing a Special Financial Assistance Program due. Future contribution rates will be determined through the negotiation process for contract periods following the term of the current collective bargaining agreement. While the Company cannot determine with any certainty the contributions that will be required under future collective bargaining agreements for ABF Freight’s contractual employees, management believes future contribution rates to multiemployer pension plans may be less likely to increase as a result of the provisions of the Pension Relief Act. If ABF Freight were to completely withdraw from certain multiemployer pension plans, under current law, ABF Freight would have material liabilities for its share of the unfunded vested liabilities of each such plan. ​ The multiemployer plan administrators have provided to the Company no significant changes in information related to multiemployer plans from the information disclosed in the Company’s 2021 Annual Report on Form 10-K.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2022
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE I – STOCKHOLDERS’ EQUITY ​ Accumulated Other Comprehensive Income ​ Components of accumulated other comprehensive income were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ Pre-tax amounts: ​ ​ ​ ​ ​ ​ ​ Unrecognized net periodic benefit credit ​ $ 5,034 ​ $ 5,602 ​ Interest rate swap ​ ​ 3,646 ​ ​ 419 ​ Foreign currency translation ​ (3,321) ​ (1,044) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 5,359 ​ $ 4,977 ​ ​ ​ ​ ​ ​ ​ ​ ​ After-tax amounts: ​ ​ ​ ​ ​ ​ ​ Unrecognized net periodic benefit credit ​ $ 3,738 ​ $ 4,160 ​ Interest rate swap ​ ​ 2,692 ​ ​ 309 ​ Foreign currency translation ​ (2,452) ​ (770) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,978 ​ $ 3,699 ​ ​ ​ ​ The following is a summary of the changes in accumulated other comprehensive income, net of tax, by component for the nine months ended September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized ​ Interest ​ Foreign ​ ​ ​ ​ ​ ​ Net Periodic ​ Rate ​ Currency ​ ​ Total Benefit Credit Swap Translation ​ ​ (in thousands) ​ Balances at December 31, 2021 ​ $ 3,699 ​ $ 4,160 ​ $ 309 ​ $ (770) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) before reclassifications ​ 701 ​ — ​ ​ 2,383 ​ (1,682) ​ Amounts reclassified from accumulated other comprehensive income ​ (422) ​ (422) ​ ​ — ​ — ​ Net current-period other comprehensive income (loss) ​ 279 ​ (422) ​ ​ 2,383 ​ (1,682) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at September 30, 2022 ​ $ 3,978 ​ $ 3,738 ​ $ 2,692 ​ $ (2,452) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at December 31, 2020 ​ $ 1,190 ​ $ 3,260 ​ $ (1,198) ​ $ (872) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications ​ ​ 997 ​ ​ — ​ ​ 869 ​ ​ 128 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ (300) ​ ​ (300) ​ ​ — ​ ​ — ​ Net current-period other comprehensive income (loss) ​ ​ 697 ​ ​ (300) ​ ​ 869 ​ ​ 128 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at September 30, 2021 ​ $ 1,887 ​ $ 2,960 ​ $ (329) ​ $ (744) ​ ​ The following is a summary of the significant reclassifications out of accumulated other comprehensive income by component: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized Net Periodic ​ ​ ​ Benefit Credit (1)(2) ​ ​ Nine Months Ended September 30 ​ ​ 2022 2021 ​ ​ (in thousands) Amortization of net actuarial gain, pre-tax ​ $ 568 ​ $ 404 ​ Tax expense ​ ​ (146) ​ (104) ​ Total, net of tax ​ $ 422 ​ $ 300 ​ ​ (1) Amounts in parentheses indicate increases in expense or loss. (2) These components of accumulated other comprehensive income are included in the computation of net periodic benefit cost as disclosed in Note H. ​ Dividends on Common Stock ​ The following table is a summary of dividends declared during the applicable quarter: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ Per Share Amount Per Share Amount ​ ​ (in thousands, except per share data) First quarter ​ $ 0.08 ​ $ 1,978 ​ $ 0.08 ​ $ 2,037 ​ Second quarter ​ $ 0.12 ​ $ 2,949 ​ $ 0.08 ​ $ 2,058 ​ Third quarter ​ $ 0.12 ​ $ 2,965 ​ $ 0.08 ​ $ 2,050 ​ ​ On October 28, 2022, the Company announced its Board of Directors declared a dividend of $0.12 per share to stockholders of record as of November 11, 2022. ​ Treasury Stock ​ The Company has a program to repurchase its common stock in the open market or in privately negotiated transactions (the “share repurchase program”). The share repurchase program has no expiration date but may be terminated at any time at the Board of Directors’ discretion. Repurchases may be made using the Company’s cash reserves or other available sources. On November 2, 2021, the Company entered into a fixed dollar accelerated share repurchase program (“ASR”) with a third-party financial institution to effect an accelerated repurchase of $100.0 million of the Company’s common stock, of which $75.0 million was repurchased during 2021. The remaining $25.0 million available under the ASR was recorded as an unsettled forward contract within stockholders’ equity as additional paid-in capital as of December 31, 2021. The Company had $66.9 million available for repurchases of its common stock in total under the share repurchase program and the ASR as of December 31, 2021. ​ During the nine months ended September 30, 2022, the Company purchased 848,322 shares for an aggregate cost of $75.1 million, including the purchase of 214,763 shares to settle the remaining $25.0 million under the ASR. In April 2022, the Board of Directors reauthorized the share repurchase program and increased the total amount available for purchases of the Company’s common stock under the program to $75.0 million. The Company had $41.4 million remaining under its share repurchase programs as of September 30, 2022.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE J – EARNINGS PER SHARE ​ The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30 ​ September 30 ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands, except share and per share data) ​ Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 88,842 ​ $ 63,691 ​ $ 260,872 ​ $ 148,033 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares ​ 24,605,228 ​ 25,632,805 ​ 24,640,706 ​ 25,559,642 ​ Earnings per common share ​ $ 3.61 ​ $ 2.48 ​ $ 10.59 ​ $ 5.79 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 88,842 ​ $ 63,691 ​ $ 260,872 ​ $ 148,033 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares ​ 24,605,228 ​ 25,632,805 ​ 24,640,706 ​ 25,559,642 ​ Effect of dilutive securities ​ 767,527 ​ 1,137,341 ​ 985,519 ​ 1,312,739 ​ Adjusted weighted-average shares and assumed conversions ​ 25,372,755 ​ 26,770,146 ​ 25,626,225 ​ 26,872,381 ​ Earnings per common share ​ $ 3.50 ​ $ 2.38 ​ $ 10.18 ​ $ 5.51 ​ ​

OPERATING SEGMENT DATA

OPERATING SEGMENT DATA	9 Months Ended
	Sep. 30, 2022
OPERATING SEGMENT DATA
OPERATING SEGMENT DATA	NOTE K – OPERATING SEGMENT DATA ​ The Company uses the “management approach” to determine its reportable operating segments, as well as to determine the basis of reporting the operating segment information. The management approach focuses on financial information that the Company’s management uses to make operating decisions. Management uses revenues, operating expense categories, operating ratios, operating income, and key operating statistics to evaluate performance and allocate resources to the Company’s operations. ​ The Company’s reportable operating segments are impacted by seasonal fluctuations which affect tonnage, shipment or service event levels, and demand for services, as described below; therefore, operating results for the interim periods presented may not necessarily be indicative of the results for the fiscal year. In recent periods, including the three and nine months ended September 30, 2022, the Company’s operations have not been as heavily impacted by seasonal fluctuations, due in part to strategic initiatives undertaken to enable profitable growth through seasons and cycles. The acquired operations of MoLo on November 1, 2021 resulted in increased business levels for the ArcBest segment for the three and nine months ended September 30, 2022, compared to the same periods of 2021. ​ The Company’s reportable operating segments are as follows: ​ ● The Asset-Based segment includes the results of operations of ABF Freight System, Inc. and certain other subsidiaries. The segment operations include national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed LTL services. The Asset-Based segment provides services to the ArcBest segment, including freight transportation related to certain consumer household goods self-move services. ​ Freight shipments and operating costs of the Asset-Based segment can be adversely affected by inclement weather conditions. Historically, the second and third calendar quarters of each year usually have the highest tonnage levels while the first quarter generally has the lowest, although other factors, including the state of the U.S. and global economies; available capacity in the market; the impact of yield initiatives; and the impact of adverse external events or conditions, may influence quarterly freight tonnage levels. ​ ● The ArcBest segment includes the results of operations of the Company’s service offerings in ground expedite, truckload, dedicated, intermodal, household goods moving, managed transportation, warehousing and distribution, and international freight transportation for air, ocean, and ground. The ArcBest segment provides services to the Asset-Based segment. ​ ArcBest segment operations are influenced by seasonal fluctuations that impact customers’ supply chains. Historically, the second and third calendar quarters of each year usually have the highest shipment levels while the first quarter generally has the lowest, although other factors, including the state of the U.S. and global economies; available capacity in the market; and the impact of adverse external events or conditions, may impact quarterly business levels. Shipments of the ArcBest segment may decline during winter months because of post-holiday slowdowns, but expedite shipments can be subject to short-term increases depending on the impact of weather or other disruptions to customers’ supply chains. Plant shutdowns during summer months may affect shipments for automotive and manufacturing customers of the ArcBest segment, but disruptive events can result in higher demand for expedite services. Moving services of the ArcBest segment are impacted by seasonal fluctuations, generally resulting in higher business levels in the second and third quarters as the demand for moving services is typically stronger in the summer months. ​ ● FleetNet includes the results of operations of FleetNet America, Inc. and certain other subsidiaries that provide roadside assistance and maintenance management services for commercial vehicles through a network of third-party service providers. FleetNet provides services to the Asset-Based and ArcBest segments. ​ Emergency roadside service events of the FleetNet segment are favorably impacted by extreme weather conditions that affect commercial vehicle operations, and the segment’s results of operations are influenced by seasonal variations in service event volume and the impact of other external events or conditions. ​ The Company’s other business activities and operations that are not reportable segments include ArcBest Corporation (the parent holding company) and certain subsidiaries. Certain costs incurred by the parent holding company and the Company’s shared services subsidiary are allocated to the reporting segments. The Company eliminates intercompany transactions in consolidation. However, the information used by the Company’s management with respect to its reportable operating segments is before intersegment eliminations of revenues and expenses. ​ Shared services represent costs incurred to support all segments, including sales, pricing, customer service, marketing, capacity sourcing functions, human resources, financial services, information technology, and other company-wide services. Certain overhead costs are not attributable to any segment and remain unallocated in “Other and eliminations.” Included in unallocated costs are expenses related to investor relations, legal, the Company’s Board of Directors, and certain technology investments. Shared services costs attributable to the reportable operating segments are predominantly allocated based upon estimated and planned resource utilization-related metrics such as estimated shipment levels, number of pricing proposals, or number of personnel supported. The bases for such charges are modified and adjusted by management when necessary or appropriate to reflect fairly and equitably the actual incidence of cost incurred by the reportable operating segments. Management believes the methods used to allocate expenses are reasonable. ​ Further classifications of operations or revenues by geographic location are impracticable and, therefore, are not provided. The Company’s foreign operations are not significant. ​ The following tables reflect the Company’s reportable operating segment information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ 2022 2021 2022 2021 ​ ​ (in thousands) REVENUES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 791,531 ​ $ 681,164 $ 2,299,464 $ 1,890,288 ​ ArcBest (1) ​ 515,235 ​ 305,207 ​ 1,660,174 ​ 828,291 ​ FleetNet ​ 89,276 ​ 66,514 ​ 249,786 ​ 185,224 ​ Other and eliminations ​ (44,211) ​ (36,228) ​ (129,590) ​ (108,960) ​ Total consolidated revenues $ 1,351,831 $ 1,016,657 $ 4,079,834 $ 2,794,843 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries, wages, and benefits ​ $ 332,359 ​ $ 305,839 $ 973,924 $ 893,903 ​ Fuel, supplies, and expenses ​ 97,279 ​ 66,947 ​ 281,406 ​ 192,477 ​ Operating taxes and licenses ​ 13,089 ​ 12,426 ​ 38,405 ​ 36,977 ​ Insurance ​ 13,180 ​ 10,175 ​ 35,808 ​ 28,568 ​ Communications and utilities ​ 4,794 ​ 4,559 ​ 14,129 ​ 14,192 ​ Depreciation and amortization ​ 24,117 ​ 23,233 ​ 72,885 ​ 70,025 ​ Rents and purchased transportation ​ 123,714 ​ 95,855 ​ 348,249 ​ 266,525 ​ Shared services ​ ​ 72,286 ​ ​ 71,017 ​ ​ 215,020 ​ ​ 196,255 ​ Gain on sale of property and equipment (2) ​ (5,910) ​ — ​ (9,975) ​ (8,624) ​ Innovative technology costs (3) ​ 6,068 ​ 6,903 ​ 20,982 ​ 21,303 ​ Other ​ 1,243 ​ 592 ​ 2,629 ​ 1,103 ​ Total Asset-Based ​ 682,219 ​ 597,546 ​ ​ 1,993,462 ​ ​ 1,712,704 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ArcBest (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased transportation ​ 425,567 ​ 256,900 ​ 1,382,107 ​ 694,498 ​ Supplies and expenses ​ 4,378 ​ 2,741 ​ 11,907 ​ 7,785 ​ Depreciation and amortization (4) ​ 5,072 ​ 2,352 ​ 15,720 ​ 7,104 ​ Shared services ​ ​ 56,371 ​ ​ 31,048 ​ ​ 164,554 ​ ​ 86,198 ​ Gain on sale of subsidiary (5) ​ ​ — ​ ​ — ​ ​ (402) ​ ​ (6,923) ​ Other ​ ​ 8,463 ​ 1,984 ​ ​ 22,309 ​ ​ 6,055 ​ Total ArcBest ​ 499,851 ​ 295,025 ​ 1,596,195 ​ 794,717 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FleetNet ​ 88,395 ​ 65,245 ​ 245,596 ​ 181,794 ​ Other and eliminations ​ (34,395) ​ (28,720) (103,454) ​ (88,423) ​ Total consolidated operating expenses ​ $ 1,236,070 ​ $ 929,096 ​ $ 3,731,799 ​ $ 2,600,792 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021. (2) The three and nine months ended September 30, 2022 include a $4.3 million noncash gain on a like-kind property exchange of a service center, with the remaining gains related primarily to sales of replaced equipment. The nine months ended September 30, 2021 include an $8.6 million gain on the sale of an unutilized service center property. (3) Represents costs associated with the freight handling pilot test program at ABF Freight. (4) Depreciation and amortization includes amortization of intangibles associated with acquired businesses. (5) Gain recognized relates to the sale of the labor services portion of the ArcBest segment’s moving business in May 2021, including the contingent amount recognized in second quarter 2022 when the funds were released from escrow. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) OPERATING INCOME ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 109,312 ​ $ 83,618 ​ $ 306,002 ​ $ 177,584 ​ ArcBest (1) ​ 15,384 ​ 10,182 ​ 63,979 ​ 33,574 ​ FleetNet ​ 881 ​ 1,269 ​ 4,190 ​ 3,430 ​ Other and eliminations ​ (9,816) ​ (7,508) ​ (26,136) ​ (20,537) ​ Total consolidated operating income ​ $ 115,761 ​ $ 87,561 ​ $ 348,035 ​ $ 194,051 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OTHER INCOME (COSTS) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest and dividend income ​ $ 1,147 ​ $ 323 ​ $ 1,614 ​ $ 1,037 ​ Interest and other related financing costs ​ (1,749) ​ (2,072) ​ (5,551) ​ (6,774) ​ Other, net (2) ​ (189) ​ 338 ​ (3,822) ​ 2,641 ​ Total other income (costs) ​ (791) ​ (1,411) ​ (7,759) ​ (3,096) ​ INCOME BEFORE INCOME TAXES ​ $ 114,970 ​ $ 86,150 ​ $ 340,276 ​ $ 190,955 ​ (1) The 2022 periods include the operations of MoLo which was acquired on November 1, 2021. (2) Includes the components of net periodic benefit cost other than service cost related to the Company’s SBP and postretirement plans (see Note H) and proceeds and changes in cash surrender value of life insurance policies. ​ The following table reflects information about revenues from customers and intersegment revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ 2022 2021 2022 2021 ​ ​ (in thousands) Revenues from customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 778,473 ​ $ 655,737 $ 2,242,964 $ 1,815,606 ​ ArcBest (1) ​ 503,182 ​ 303,076 ​ 1,633,684 ​ 821,355 ​ FleetNet ​ 72,318 ​ 56,656 ​ 207,505 ​ 155,041 ​ Other ​ (2,142) ​ 1,188 ​ (4,319) ​ 2,841 ​ Total consolidated revenues (1) $ 1,351,831 $ 1,016,657 $ 4,079,834 $ 2,794,843 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 13,058 ​ $ 25,427 ​ $ 56,500 ​ $ 74,682 ​ ArcBest ​ ​ 12,053 ​ ​ 2,131 ​ ​ 26,490 ​ ​ 6,936 ​ FleetNet ​ ​ 16,958 ​ ​ 9,858 ​ ​ 42,281 ​ ​ 30,183 ​ Other and eliminations ​ ​ (42,069) ​ ​ (37,416) ​ ​ (125,271) ​ ​ (111,801) ​ Total intersegment revenues ​ $ — $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total segment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 791,531 ​ $ 681,164 ​ $ 2,299,464 ​ $ 1,890,288 ​ ArcBest (1) ​ ​ 515,235 ​ ​ 305,207 ​ ​ 1,660,174 ​ ​ 828,291 ​ FleetNet ​ ​ 89,276 ​ ​ 66,514 ​ ​ 249,786 ​ ​ 185,224 ​ Other and eliminations ​ ​ (44,211) ​ ​ (36,228) ​ ​ (129,590) ​ ​ (108,960) ​ Total consolidated revenues (1) ​ $ 1,351,831 ​ $ 1,016,657 ​ $ 4,079,834 ​ $ 2,794,843 ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021. ​ The following table presents operating expenses by category on a consolidated basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ ​ 2022 (1) 2021 2022 (1) 2021 ​ (in thousands) ​ OPERATING EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries, wages, and benefits ​ $ 451,824 ​ $ 397,116 ​ $ 1,321,871 ​ $ 1,145,657 ​ Rents, purchased transportation, and other costs of services ​ 596,631 ​ 382,759 ​ 1,854,387 ​ 1,039,857 ​ Fuel, supplies, and expenses ​ 112,834 ​ 82,051 ​ 331,759 ​ 235,221 ​ Depreciation and amortization (2) ​ 34,707 ​ 30,359 ​ 104,860 ​ 90,995 ​ Other (3) ​ 40,074 ​ 36,811 ​ 118,922 ​ 89,062 ​ ​ ​ $ 1,236,070 ​ $ 929,096 ​ $ 3,731,799 ​ $ 2,600,792 ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021. (2) Includes amortization of intangible assets. (3) The nine months ended September 30, 2021 include a $6.9 million gain related to the sale of a subsidiary within the ArcBest segment.

LEGAL PROCEEDINGS, ENVIRONMENTA

LEGAL PROCEEDINGS, ENVIRONMENTAL MATTERS, AND OTHER EVENTS	9 Months Ended
	Sep. 30, 2022
LEGAL PROCEEDINGS, ENVIRONMENTAL MATTERS, AND OTHER EVENTS
LEGAL PROCEEDINGS, ENVIRONMENTAL MATTERS, AND OTHER EVENTS	NOTE L – LEGAL PROCEEDINGS, ENVIRONMENTAL MATTERS, AND OTHER EVENTS ​ The Company is involved in various legal actions arising in the ordinary course of business. The Company maintains liability insurance against certain risks arising out of the normal course of its business, subject to certain self-insured retention limits. The Company routinely establishes and reviews the adequacy of reserves for estimated legal, environmental, and self-insurance exposures. While management believes that amounts accrued in the consolidated financial statements are adequate, estimates of these liabilities may change as circumstances develop. Considering amounts recorded, routine legal matters are not expected to have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. ​ Environmental Matters ​ The Company’s subsidiaries store fuel for use in tractors and trucks in underground tanks at certain facilities. Maintenance of such tanks is regulated at the federal and, in most cases, state levels. The Company believes it is in substantial compliance with all such regulations. The Company’s underground storage tanks are required to have leak detection systems. The Company is not aware of any leaks from such tanks that could reasonably be expected to have a material adverse effect on the Company. ​ The Company has received notices from the Environmental Protection Agency (the “EPA”) and others that it has been identified as a potentially responsible party under the Comprehensive Environmental Response Compensation and Liability Act, or other federal or state environmental statutes, at several hazardous waste sites. After investigating the Company’s involvement in waste disposal or waste generation at such sites, the Company has either agreed to de minimis settlements or determined that its obligations, other than those specifically accrued with respect to such sites, would involve immaterial monetary liability, although there can be no assurances in this regard. The Company maintains an accrual, which is included in accrued expenses, for estimated environmental cleanup costs of properties currently or previously operated by the Company. Amounts accrued reflect management’s best estimate of the future undiscounted exposure related to identified properties based on current environmental regulations, management’s experience with similar environmental matters, and testing performed at certain sites. ​ Certain Asset-Based service center facilities operate with no exposure certifications or stormwater permits under the federal Clean Water Act (“the CWA”). The no exposure certification and stormwater permits may require periodic facility inspections and monitoring and reporting of stormwater sampling results. The Company determined that certain procedures regarding sampling, documentation, and reporting were not appropriately being performed in accordance with the CWA. As such, the Company self-reported the matter to the EPA. An estimated settlement expense for this matter is accrued within accrued expenses in the consolidated balance sheet as of September 30, 2022. Resolution of this matter is not expected to have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. ​ Other Events ​ In February 2021, the Company received a Notice of Assessment from a state pertaining to uncollected sales and use tax, including interest and penalties, for the period September 1, 2016 to November 30, 2018. The Company does not agree with the basis of the assessment and filed an appeal in May 2021. The Company has previously accrued an amount related to this assessment consistent with applicable accounting guidance, but if the state prevails in its position, the Company may owe additional tax. Management does not believe the resolution of this matter will have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. ​

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2022
ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION
Financial Statement Presentation	Financial Statement Presentation ​ The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. Accordingly, these interim financial statements do not include all information or footnote disclosures required by accounting principles generally accepted in the United States for complete financial statements and, therefore, should be read in conjunction with the audited financial statements and accompanying notes included in the Company’s 2021 Annual Report on Form 10-K and other current filings with the SEC. In the opinion of management, all adjustments (which are of a normal and recurring nature) considered necessary for a fair presentation have been included. ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual amounts may differ from those estimates.
Accounting Pronouncements Not Yet Adopted	​ Accounting Pronouncements Not Yet Adopted ​ Management believes there is no new accounting guidance issued but not yet effective that would have a material impact to the Company’s current financial statements.

FINANCIAL INSTRUMENTS AND FAI_2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS
Schedule components of cash and cash equivalents, short term investments, and restricted funds	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 December 31 ​ ​ 2022 ​ 2021 ​ ​ (in thousands) ​ Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ Cash deposits (1) ​ $ 123,612 ​ $ 72,790 ​ Variable rate demand notes (1)(2) ​ 19,150 ​ 230 ​ Money market funds (3) ​ 12,769 ​ 3,600 ​ Total cash and cash equivalents ​ $ 155,531 ​ $ 76,620 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term investments ​ ​ ​ ​ ​ ​ ​ Certificates of deposit (1) ​ $ 76,652 ​ $ 48,339 ​ U.S. Treasury securities (4) ​ ​ 69,106 ​ ​ — ​ Total short-term investments ​ $ 145,758 ​ $ 48,339 ​ ​ (1) Recorded at cost plus accrued interest, which approximates fair value. (2) Amounts may be redeemed on a daily basis with the original issuer. (3) Recorded at fair value as determined by quoted market prices (see amounts presented in the table of financial assets and liabilities measured at fair value within this Note). (4) Recorded at amortized cost plus accrued interest, which approximates fair value. U.S. Treasury securities included in short-term investments are held-to-maturity investments with maturity dates of less than one year. ​
Schedule of fair value and carrying value disclosures of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ ​ ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ ​ ​ Value ​ Value ​ Value ​ Value ​ Credit Facility (1) ​ $ 50,000 ​ $ 50,000 ​ $ 50,000 ​ $ 50,000 ​ Notes payable (2) ​ 203,319 ​ 194,138 ​ 175,530 ​ 175,937 ​ New England Pension Fund withdrawal liability (3) ​ ​ 20,270 ​ ​ 19,149 ​ ​ 20,769 ​ ​ 23,521 ​ ​ ​ $ 273,589 ​ $ 263,287 ​ $ 246,299 ​ $ 249,458 ​ ​ (1) The revolving credit facility (the “Credit Facility”) carries a variable interest rate based on LIBOR, plus a margin, that is considered to be priced at market for debt instruments having similar terms and collateral requirements (Level 2 of the fair value hierarchy). (2) Fair value of the notes payable was determined using a present value income approach based on quoted interest rates from lending institutions with which the Company would enter into similar transactions (Level 2 of the fair value hierarchy). (3) ABF Freight’s multiemployer pension plan obligation with the New England Teamsters and Trucking Industry Pension Fund (the “New England Pension Fund”) was restructured under a transition agreement effective on August 1, 2018, which resulted in a related withdrawal liability. The fair value of the outstanding withdrawal liability is equal to the present value of the future withdrawal liability payments, discounted at an interest rate of 5.2% and 3.1% at September 30, 2022 and December 31, 2021, respectively, determined using the 20-year U.S. Treasury rate plus a spread (Level 2 of the fair value hierarchy). As of September 30, 2022, the outstanding withdrawal liability totaled $20.3 million, of which $0.7 million and $19.6 million was recorded in accrued expenses and the other long-term liabilities, respectively.
Schedule of financial assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ ​ ​ ​ ​ Quoted Prices Significant Significant ​ ​ ​ ​ ​ In Active ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Markets ​ Inputs ​ Inputs ​ ​ ​ Total (Level 1) (Level 2) (Level 3) ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds (1) ​ $ 12,769 ​ $ 12,769 ​ $ — ​ $ — ​ Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan (2) ​ 3,620 ​ 3,620 ​ — ​ — ​ Interest rate swaps (3) ​ ​ 3,646 ​ ​ — ​ ​ 3,646 ​ ​ — ​ ​ ​ $ 20,035 ​ $ 16,389 ​ $ 3,646 ​ $ — ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration (4) ​ ​ 94,510 ​ ​ — ​ ​ — ​ ​ 94,510 ​ ​ ​ $ 94,510 ​ $ — ​ $ — ​ $ 94,510 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ ​ ​ ​ ​ Quoted Prices Significant Significant ​ ​ ​ ​ ​ In Active ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Markets ​ Inputs ​ Inputs ​ ​ ​ Total (Level 1) (Level 2) (Level 3) ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds (1) ​ $ 3,600 ​ $ 3,600 ​ $ — ​ $ — ​ Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan (2) ​ 3,848 ​ 3,848 ​ — ​ — ​ Interest rate swaps (3) ​ ​ 874 ​ ​ — ​ ​ 874 ​ ​ — ​ ​ ​ $ 8,322 ​ $ 7,448 ​ $ 874 ​ $ — ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (3) ​ $ 455 ​ $ — ​ $ 455 ​ $ — ​ Contingent consideration (4) ​ ​ 93,700 ​ ​ — ​ ​ — ​ ​ 93,700 ​ ​ ​ $ 94,155 ​ $ — ​ $ 455 ​ $ 93,700 ​ ​ (1) Included in cash and cash equivalents. (2) Nonqualified deferred compensation plan investments consist of U.S. and international equity mutual funds, government and corporate bond mutual funds, and money market funds which are held in a trust with a third-party brokerage firm. Included in other long-term assets, with a corresponding liability reported within other long-term liabilities. (3) Included in other long-term assets or other long-term liabilities. The fair values of the interest rate swaps were determined by discounting future cash flows and receipts based on expected interest rates observed in market interest rate curves adjusted for estimated credit valuation considerations reflecting nonperformance risk of the Company and the counterparty, which are generally considered to be in Level 3 of the fair value hierarchy. However, the Company assessed Level 3 inputs as insignificant to the valuation at September 30, 2022 and December 31, 2021 and considers the interest rate swap valuations in Level 2 of the fair value hierarchy. (4) Included in other long-term liabilities, based on when expected payouts become due. The estimated fair value of contingent consideration for the earn-out agreement related to the November 2021 acquisition of MoLo was determined by assessing Level 3 inputs. The Level 3 assessments utilize a Monte Carlo simulation with inputs including scenarios of estimated revenues and earnings before interest, taxes, depreciation and amortization to be achieved for the applicable performance periods, volatility factors applied to the simulations, and the discount rate applied, which was 10.6% and 9.0% as of September 30, 2022 and December 31, 2021, respectively. Changes in the significant unobservable inputs might result in a significantly higher or lower fair value at the reporting date.
Schedule of changes in fair value of liabilities measured at fair value using inputs categorized in Level 3	​ ​ ​ ​ ​ ​ ​ ​ Contingent Consideration ​ ​ ​ (in thousands) ​ Balances at December 31, 2021 ​ $ 93,700 ​ Change in fair value included in operating income ​ ​ 810 ​ Balances at September 30, 2022 ​ $ 94,510 ​

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	Sep. 30, 2022
ACQUISITION.
Schedule of purchase consideration and estimated fair values of the acquired assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ ​ ​ Consideration ​ ​ ​ (in thousands) ​ Net cash consideration, including estimated post-closing adjustments ​ $ 235,751 ​ Contingent consideration ​ ​ 93,700 ​ Total purchase consideration ​ $ 329,451 ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ Allocation ​ ​ (in thousands) Accounts receivable ​ $ 130,206 ​ Prepaid expenses ​ 468 ​ Property and equipment ​ 2,309 ​ Operating lease right-of-use assets ​ 844 ​ Intangible assets ​ 76,900 ​ Other assets ​ 170 ​ Total identifiable assets acquired ​ 210,897 ​ ​ ​ ​ ​ ​ Accounts payable ​ 97,199 ​ Accrued expenses and other current liabilities ​ 4,148 ​ Operating lease liabilities ​ 983 ​ Total liabilities ​ 102,330 ​ ​ ​ ​ ​ ​ Total identifiable net assets ​ 108,567 ​ Goodwill ​ 220,884 ​ Net assets acquired ​ $ 329,451 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
Schedule of goodwill by reportable operating segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ArcBest FleetNet ​ ​ (in thousands) Balances at December 31, 2021 $ 300,337 ​ $ 299,707 ​ $ 630 ​ Purchase accounting adjustments (1) ​ ​ 6,915 ​ ​ 6,915 ​ ​ — ​ Balances at September 30, 2022 $ 307,252 $ 306,622 $ 630 (1) As noted in Note C, purchase accounting adjustments related to the MoLo acquisition represent adjustments to the acquired balance of working capital, and goodwill related to the November 1, 2021 acquisition of MoLo is based on preliminary information as of September 30, 2022.
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ Weighted-Average ​ ​ ​ ​ Accumulated ​ Net ​ ​ ​ ​ Accumulated ​ Net ​ Amortization Period Cost Amortization Value ​ Cost Amortization Value ​ ​ (in years) ​ (in thousands) ​ (in thousands) Finite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships 12 ​ $ 100,321 ​ $ 41,489 ​ $ 58,832 ​ $ 100,321 ​ $ 35,072 ​ $ 65,249 ​ Other ​ 8 ​ ​ 30,368 ​ ​ 4,578 ​ ​ 25,790 ​ ​ 30,335 ​ ​ 1,304 ​ ​ 29,031 ​ ​ 11 ​ 130,689 ​ 46,067 ​ 84,622 ​ ​ 130,656 ​ 36,376 ​ 94,280 ​ Indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade name N/A ​ 32,300 ​ N/A ​ 32,300 ​ ​ 32,300 ​ N/A ​ 32,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total intangible assets N/A ​ $ 162,989 ​ $ 46,067 ​ $ 116,922 ​ $ 162,956 ​ $ 36,376 ​ $ 126,580 ​
Schedule of future amortization for intangible assets	​ ​ ​ ​ ​ ​ ​ Amortization of ​ ​ Intangible Assets ​ ​ (in thousands) ​ Remainder of 2022 ​ $ 3,229 ​ 2023 ​ 12,826 ​ 2024 ​ 12,793 ​ 2025 ​ 12,778 ​ 2026 ​ ​ 8,671 ​ Thereafter ​ ​ 34,325 ​ Total amortization ​ $ 84,622 ​

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2022
LEASES
Schedule of components of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30 ​ September 30 ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Operating lease expense ​ $ 8,666 ​ $ 6,575 ​ $ 23,116 ​ $ 19,801 ​ Variable lease expense ​ ​ 1,176 ​ ​ 957 ​ ​ 3,220 ​ ​ 3,252 ​ Sublease income ​ ​ (286) ​ ​ (157) ​ ​ (544) ​ ​ (468) ​ Total operating lease expense (1) ​ $ 9,556 ​ $ 7,375 ​ $ 25,792 ​ $ 22,585 ​ (1) Operating lease expense excludes short-term leases with a term of 12 months or less.
Schedule of operating cash flows from operating lease activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30 ​ ​ 2022 ​ 2021 ​ ​ (in thousands) Noncash change in operating right-of-use assets ​ $ 20,356 ​ $ 17,256 ​ Change in operating lease liabilities ​ ​ (18,777) ​ ​ (16,606) ​ Operating right-of-use-assets and lease liabilities, net ​ $ 1,579 ​ $ 650 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities ​ $ (21,526) ​ $ (19,128) ​
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equipment ​ ​ ​ ​ ​ ​ Land and ​ and ​ ​ Total Structures (1) Other ​ (in thousands) ​ Remainder of 2022 ​ $ 7,277 ​ $ 7,178 ​ $ 99 ​ 2023 ​ 30,182 ​ 29,760 ​ 422 ​ 2024 ​ 28,601 ​ 28,302 ​ 299 ​ 2025 ​ 24,856 ​ 24,856 ​ — ​ 2026 ​ 22,616 ​ 22,616 ​ — ​ Thereafter ​ 83,884 ​ 83,884 ​ — ​ Total lease payments ​ ​ 197,416 ​ ​ 196,596 ​ ​ 820 ​ Less imputed interest ​ ​ (26,596) ​ ​ (26,563) ​ ​ (33) ​ Total ​ $ 170,820 ​ $ 170,033 ​ $ 787 ​ (1) Excludes future minimum lease payments for leases which were executed but had not yet commenced as of September 30, 2022 totaling $41.1 million which will be paid over approximately 10 years .

LONG-TERM DEBT AND FINANCING _2

LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
LONG-TERM DEBT AND FINANCING ARRANGEMENTS
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ Credit Facility (interest rate of 4.2% (1) ​ $ 50,000 ​ $ 50,000 ​ Notes payable (weighted-average interest rate of 3.0% at September 30, 2022) ​ 203,319 ​ 175,530 ​ Finance lease obligations ​ — ​ 2 ​ ​ ​ 253,319 ​ 225,532 ​ Less current portion ​ 63,521 ​ 50,615 ​ Long-term debt, less current portion ​ $ 189,798 ​ $ 174,917 ​ ​ (1) The interest rate swap mitigates interest rate risk by effectively converting the $50.0 million of borrowings under the Credit Facility from variable-rate interest to fixed-rate interest with a per annum rate of 1.56% and 3.12% based on the margin of the Credit Facility as of September 30, 2022 and December 31, 2021, respectively. ​ ​
Scheduled maturities of long-term debt obligations	Scheduled maturities of long-term debt obligations as of September 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit ​ Notes ​ ​ Total Facility (1) Payable ​ (in thousands) ​ Due in one year or less $ 71,428 $ 2,754 $ 68,674 ​ Due after one year through two years ​ 62,723 ​ 2,638 ​ 60,085 ​ Due after two years through three years ​ 94,012 ​ 50,000 ​ 44,012 ​ Due after three years through four years ​ 27,888 ​ — ​ 27,888 ​ Due after four years through five years ​ 14,421 ​ — ​ 14,421 ​ Due after five years ​ ​ 379 ​ ​ — ​ ​ 379 ​ Total payments ​ 270,851 ​ 55,392 ​ 215,459 ​ Less amounts representing interest ​ 17,532 ​ 5,392 ​ 12,140 ​ Long-term debt $ 253,319 $ 50,000 $ 203,319 ​ (1) The future interest payments included in the scheduled maturities due are calculated using variable interest rates based on the LIBOR swap curve, plus the anticipated applicable margin.
Schedule of assets securing notes payable or held under capital leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 ​ December 31 ​ ​ 2022 2021 ​ ​ (in thousands) Revenue equipment $ 274,540 $ 241,892 ​ Service, office, and other equipment ​ ​ 39,428 ​ ​ 29,773 ​ Total assets securing notes payable or held under finance leases ​ 313,968 ​ 271,665 ​ Less accumulated depreciation and amortization (1) ​ 106,769 ​ 88,696 ​ Net assets securing notes payable or held under finance leases ​ $ 207,199 ​ $ 182,969 ​ ​ ​ (1) Amortization of assets held under finance leases and depreciation of assets securing notes payable are included in depreciation expense. ​

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2022
POSTRETIREMENT BENEFIT PLANS
Summary of the components of net periodic benefit cost (credit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30 ​ ​ ​ Supplemental ​ Postretirement ​ ​ ​ Benefit Plan ​ Health Benefit Plan ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Service cost ​ $ — ​ $ — ​ $ 39 ​ $ 48 ​ Interest cost ​ 2 ​ 1 ​ 111 ​ 107 ​ Amortization of net actuarial (gain) loss (1) ​ 2 ​ 2 ​ (192) ​ (137) ​ Net periodic benefit cost (credit) (2) ​ $ 4 ​ $ 3 ​ $ (42) ​ $ 18 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30 ​ ​ ​ Supplemental ​ Postretirement ​ ​ ​ Benefit Plan ​ Health Benefit Plan ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) ​ Service cost ​ $ — ​ $ — ​ $ 117 ​ $ 144 ​ Interest cost ​ 5 ​ 3 ​ 331 ​ 321 ​ Amortization of net actuarial (gain) loss (1) ​ 6 ​ 7 ​ (574) ​ (411) ​ Net periodic benefit cost (credit) (2) ​ $ 11 ​ $ 10 ​ $ (126) ​ $ 54 ​ (1) The Company amortizes actuarial gains and losses over the average remaining active service period of the plan participants and does not use a corridor approach. (2) Service cost is reported within operating expenses and the other components of net periodic benefit cost are reported within the other line item of other income (costs).

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
STOCKHOLDERS' EQUITY
Components of accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30 December 31 ​ ​ 2022 2021 ​ ​ (in thousands) ​ Pre-tax amounts: ​ ​ ​ ​ ​ ​ ​ Unrecognized net periodic benefit credit ​ $ 5,034 ​ $ 5,602 ​ Interest rate swap ​ ​ 3,646 ​ ​ 419 ​ Foreign currency translation ​ (3,321) ​ (1,044) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 5,359 ​ $ 4,977 ​ ​ ​ ​ ​ ​ ​ ​ ​ After-tax amounts: ​ ​ ​ ​ ​ ​ ​ Unrecognized net periodic benefit credit ​ $ 3,738 ​ $ 4,160 ​ Interest rate swap ​ ​ 2,692 ​ ​ 309 ​ Foreign currency translation ​ (2,452) ​ (770) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,978 ​ $ 3,699 ​
Summary of changes in accumulated other comprehensive income, net of tax, by component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized ​ Interest ​ Foreign ​ ​ ​ ​ ​ ​ Net Periodic ​ Rate ​ Currency ​ ​ Total Benefit Credit Swap Translation ​ ​ (in thousands) ​ Balances at December 31, 2021 ​ $ 3,699 ​ $ 4,160 ​ $ 309 ​ $ (770) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) before reclassifications ​ 701 ​ — ​ ​ 2,383 ​ (1,682) ​ Amounts reclassified from accumulated other comprehensive income ​ (422) ​ (422) ​ ​ — ​ — ​ Net current-period other comprehensive income (loss) ​ 279 ​ (422) ​ ​ 2,383 ​ (1,682) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at September 30, 2022 ​ $ 3,978 ​ $ 3,738 ​ $ 2,692 ​ $ (2,452) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at December 31, 2020 ​ $ 1,190 ​ $ 3,260 ​ $ (1,198) ​ $ (872) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications ​ ​ 997 ​ ​ — ​ ​ 869 ​ ​ 128 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ (300) ​ ​ (300) ​ ​ — ​ ​ — ​ Net current-period other comprehensive income (loss) ​ ​ 697 ​ ​ (300) ​ ​ 869 ​ ​ 128 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at September 30, 2021 ​ $ 1,887 ​ $ 2,960 ​ $ (329) ​ $ (744) ​ ​
Summary of the significant reclassifications out of accumulated other comprehensive income (loss) by component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized Net Periodic ​ ​ ​ Benefit Credit (1)(2) ​ ​ Nine Months Ended September 30 ​ ​ 2022 2021 ​ ​ (in thousands) Amortization of net actuarial gain, pre-tax ​ $ 568 ​ $ 404 ​ Tax expense ​ ​ (146) ​ (104) ​ Total, net of tax ​ $ 422 ​ $ 300 ​ ​ (1) Amounts in parentheses indicate increases in expense or loss. (2) These components of accumulated other comprehensive income are included in the computation of net periodic benefit cost as disclosed in Note H. ​
Summary of dividends declared	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ Per Share Amount Per Share Amount ​ ​ (in thousands, except per share data) First quarter ​ $ 0.08 ​ $ 1,978 ​ $ 0.08 ​ $ 2,037 ​ Second quarter ​ $ 0.12 ​ $ 2,949 ​ $ 0.08 ​ $ 2,058 ​ Third quarter ​ $ 0.12 ​ $ 2,965 ​ $ 0.08 ​ $ 2,050 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
EARNINGS PER SHARE
Schedule of computation of basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30 ​ September 30 ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands, except share and per share data) ​ Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 88,842 ​ $ 63,691 ​ $ 260,872 ​ $ 148,033 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares ​ 24,605,228 ​ 25,632,805 ​ 24,640,706 ​ 25,559,642 ​ Earnings per common share ​ $ 3.61 ​ $ 2.48 ​ $ 10.59 ​ $ 5.79 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 88,842 ​ $ 63,691 ​ $ 260,872 ​ $ 148,033 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares ​ 24,605,228 ​ 25,632,805 ​ 24,640,706 ​ 25,559,642 ​ Effect of dilutive securities ​ 767,527 ​ 1,137,341 ​ 985,519 ​ 1,312,739 ​ Adjusted weighted-average shares and assumed conversions ​ 25,372,755 ​ 26,770,146 ​ 25,626,225 ​ 26,872,381 ​ Earnings per common share ​ $ 3.50 ​ $ 2.38 ​ $ 10.18 ​ $ 5.51 ​

OPERATING SEGMENT DATA (Tables)

OPERATING SEGMENT DATA (Tables)	9 Months Ended
	Sep. 30, 2022
OPERATING SEGMENT DATA
Schedule of reportable operating segment information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ 2022 2021 2022 2021 ​ ​ (in thousands) REVENUES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 791,531 ​ $ 681,164 $ 2,299,464 $ 1,890,288 ​ ArcBest (1) ​ 515,235 ​ 305,207 ​ 1,660,174 ​ 828,291 ​ FleetNet ​ 89,276 ​ 66,514 ​ 249,786 ​ 185,224 ​ Other and eliminations ​ (44,211) ​ (36,228) ​ (129,590) ​ (108,960) ​ Total consolidated revenues $ 1,351,831 $ 1,016,657 $ 4,079,834 $ 2,794,843 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries, wages, and benefits ​ $ 332,359 ​ $ 305,839 $ 973,924 $ 893,903 ​ Fuel, supplies, and expenses ​ 97,279 ​ 66,947 ​ 281,406 ​ 192,477 ​ Operating taxes and licenses ​ 13,089 ​ 12,426 ​ 38,405 ​ 36,977 ​ Insurance ​ 13,180 ​ 10,175 ​ 35,808 ​ 28,568 ​ Communications and utilities ​ 4,794 ​ 4,559 ​ 14,129 ​ 14,192 ​ Depreciation and amortization ​ 24,117 ​ 23,233 ​ 72,885 ​ 70,025 ​ Rents and purchased transportation ​ 123,714 ​ 95,855 ​ 348,249 ​ 266,525 ​ Shared services ​ ​ 72,286 ​ ​ 71,017 ​ ​ 215,020 ​ ​ 196,255 ​ Gain on sale of property and equipment (2) ​ (5,910) ​ — ​ (9,975) ​ (8,624) ​ Innovative technology costs (3) ​ 6,068 ​ 6,903 ​ 20,982 ​ 21,303 ​ Other ​ 1,243 ​ 592 ​ 2,629 ​ 1,103 ​ Total Asset-Based ​ 682,219 ​ 597,546 ​ ​ 1,993,462 ​ ​ 1,712,704 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ArcBest (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased transportation ​ 425,567 ​ 256,900 ​ 1,382,107 ​ 694,498 ​ Supplies and expenses ​ 4,378 ​ 2,741 ​ 11,907 ​ 7,785 ​ Depreciation and amortization (4) ​ 5,072 ​ 2,352 ​ 15,720 ​ 7,104 ​ Shared services ​ ​ 56,371 ​ ​ 31,048 ​ ​ 164,554 ​ ​ 86,198 ​ Gain on sale of subsidiary (5) ​ ​ — ​ ​ — ​ ​ (402) ​ ​ (6,923) ​ Other ​ ​ 8,463 ​ 1,984 ​ ​ 22,309 ​ ​ 6,055 ​ Total ArcBest ​ 499,851 ​ 295,025 ​ 1,596,195 ​ 794,717 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FleetNet ​ 88,395 ​ 65,245 ​ 245,596 ​ 181,794 ​ Other and eliminations ​ (34,395) ​ (28,720) (103,454) ​ (88,423) ​ Total consolidated operating expenses ​ $ 1,236,070 ​ $ 929,096 ​ $ 3,731,799 ​ $ 2,600,792 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021. (2) The three and nine months ended September 30, 2022 include a $4.3 million noncash gain on a like-kind property exchange of a service center, with the remaining gains related primarily to sales of replaced equipment. The nine months ended September 30, 2021 include an $8.6 million gain on the sale of an unutilized service center property. (3) Represents costs associated with the freight handling pilot test program at ABF Freight. (4) Depreciation and amortization includes amortization of intangibles associated with acquired businesses. (5) Gain recognized relates to the sale of the labor services portion of the ArcBest segment’s moving business in May 2021, including the contingent amount recognized in second quarter 2022 when the funds were released from escrow. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ ​ ​ 2022 2021 2022 2021 ​ ​ (in thousands) OPERATING INCOME ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 109,312 ​ $ 83,618 ​ $ 306,002 ​ $ 177,584 ​ ArcBest (1) ​ 15,384 ​ 10,182 ​ 63,979 ​ 33,574 ​ FleetNet ​ 881 ​ 1,269 ​ 4,190 ​ 3,430 ​ Other and eliminations ​ (9,816) ​ (7,508) ​ (26,136) ​ (20,537) ​ Total consolidated operating income ​ $ 115,761 ​ $ 87,561 ​ $ 348,035 ​ $ 194,051 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OTHER INCOME (COSTS) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest and dividend income ​ $ 1,147 ​ $ 323 ​ $ 1,614 ​ $ 1,037 ​ Interest and other related financing costs ​ (1,749) ​ (2,072) ​ (5,551) ​ (6,774) ​ Other, net (2) ​ (189) ​ 338 ​ (3,822) ​ 2,641 ​ Total other income (costs) ​ (791) ​ (1,411) ​ (7,759) ​ (3,096) ​ INCOME BEFORE INCOME TAXES ​ $ 114,970 ​ $ 86,150 ​ $ 340,276 ​ $ 190,955 ​ (1) The 2022 periods include the operations of MoLo which was acquired on November 1, 2021. (2) Includes the components of net periodic benefit cost other than service cost related to the Company’s SBP and postretirement plans (see Note H) and proceeds and changes in cash surrender value of life insurance policies.
Schedule of revenues from customers and intersegment revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ 2022 2021 2022 2021 ​ ​ (in thousands) Revenues from customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 778,473 ​ $ 655,737 $ 2,242,964 $ 1,815,606 ​ ArcBest (1) ​ 503,182 ​ 303,076 ​ 1,633,684 ​ 821,355 ​ FleetNet ​ 72,318 ​ 56,656 ​ 207,505 ​ 155,041 ​ Other ​ (2,142) ​ 1,188 ​ (4,319) ​ 2,841 ​ Total consolidated revenues (1) $ 1,351,831 $ 1,016,657 $ 4,079,834 $ 2,794,843 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 13,058 ​ $ 25,427 ​ $ 56,500 ​ $ 74,682 ​ ArcBest ​ ​ 12,053 ​ ​ 2,131 ​ ​ 26,490 ​ ​ 6,936 ​ FleetNet ​ ​ 16,958 ​ ​ 9,858 ​ ​ 42,281 ​ ​ 30,183 ​ Other and eliminations ​ ​ (42,069) ​ ​ (37,416) ​ ​ (125,271) ​ ​ (111,801) ​ Total intersegment revenues ​ $ — $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total segment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset-Based ​ $ 791,531 ​ $ 681,164 ​ $ 2,299,464 ​ $ 1,890,288 ​ ArcBest (1) ​ ​ 515,235 ​ ​ 305,207 ​ ​ 1,660,174 ​ ​ 828,291 ​ FleetNet ​ ​ 89,276 ​ ​ 66,514 ​ ​ 249,786 ​ ​ 185,224 ​ Other and eliminations ​ ​ (44,211) ​ ​ (36,228) ​ ​ (129,590) ​ ​ (108,960) ​ Total consolidated revenues (1) ​ $ 1,351,831 ​ $ 1,016,657 ​ $ 4,079,834 ​ $ 2,794,843 ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021.
Schedule of consolidated operating expenses by component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30 ​ September 30 ​ ​ 2022 (1) 2021 2022 (1) 2021 ​ (in thousands) ​ OPERATING EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries, wages, and benefits ​ $ 451,824 ​ $ 397,116 ​ $ 1,321,871 ​ $ 1,145,657 ​ Rents, purchased transportation, and other costs of services ​ 596,631 ​ 382,759 ​ 1,854,387 ​ 1,039,857 ​ Fuel, supplies, and expenses ​ 112,834 ​ 82,051 ​ 331,759 ​ 235,221 ​ Depreciation and amortization (2) ​ 34,707 ​ 30,359 ​ 104,860 ​ 90,995 ​ Other (3) ​ 40,074 ​ 36,811 ​ 118,922 ​ 89,062 ​ ​ ​ $ 1,236,070 ​ $ 929,096 ​ $ 3,731,799 ​ $ 2,600,792 ​ (1) The 2022 periods include the operations of MoLo, which was acquired on November 1, 2021. (2) Includes amortization of intangible assets. (3) The nine months ended September 30, 2021 include a $6.9 million gain related to the sale of a subsidiary within the ArcBest segment.

ORGANIZATION AND DESCRIPTION _3

ORGANIZATION AND DESCRIPTION OF THE BUSINESS AND FINANCIAL STATEMENT PRESENTATION - Organization (Details)	9 Months Ended
	Sep. 30, 2022 segment
Organization and description of business
Number of reportable operating segments	3
Asset Based
Organization and description of business
Percentage of the Company's revenues, before other revenues and intercompany eliminations, represented by the Asset-Based segment	55%
Asset Based | Unionized employees concentration risk | Number of employees
Organization and description of business
Percentage of Asset-Based segment employees covered under collective bargaining agreement with the IBT	82%

FINANCIAL INSTRUMENTS AND FAI_3

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Cash and Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair value disclosure
Cash and cash equivalents	$ 155,531	$ 76,620
Short-term investments	145,758	48,339
Concentrations of Credit Risk of Financial Instruments
Cash, cash equivalents and short-term investments not FDIC-insured	121,900	42,600
Cash deposits
Fair value disclosure
Cash and cash equivalents	123,612	72,790
Variable rate demand notes
Fair value disclosure
Cash and cash equivalents	19,150	230
Money market funds
Fair value disclosure
Cash and cash equivalents	12,769	3,600
Certificates of deposit
Fair value disclosure
Short-term investments	76,652	$ 48,339
U.S. Treasury securities
Fair value disclosure
Short-term investments	$ 69,106

FINANCIAL INSTRUMENTS AND FAI_4

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Debt (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair value disclosure
Outstanding withdrawal liability	$ 20,300
Accrued expenses
Fair value disclosure
Outstanding withdrawal liability	700
Other long-term liabilities
Fair value disclosure
Outstanding withdrawal liability	19,600
Carrying value
Fair value disclosure
Financial instruments	273,589	$ 246,299
Fair value disclosure
Fair value disclosure
Financial instruments	263,287	249,458
Credit Facility | Carrying value | Level 2
Fair value disclosure
Financial instruments	50,000	50,000
Credit Facility | Fair value disclosure | Level 2
Fair value disclosure
Financial instruments	50,000	50,000
Notes payable | Carrying value | Level 2
Fair value disclosure
Financial instruments	203,319	175,530
Notes payable | Fair value disclosure | Level 2
Fair value disclosure
Financial instruments	$ 194,138	$ 175,937
New England Pension Fund withdrawal liability | Discount Rate
Fair value disclosure
Measurement input	5.2	3.1
New England Pension Fund withdrawal liability | Carrying value | Level 2
Fair value disclosure
Financial instruments	$ 20,270	$ 20,769
New England Pension Fund withdrawal liability | Fair value disclosure | Level 2
Fair value disclosure
Financial instruments	$ 19,149	$ 23,521

FINANCIAL INSTRUMENTS AND FAI_5

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities (Details) - Recurring basis - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Assets	$ 20,035	$ 8,322
Liabilities:
Liabilities	94,510	94,155
Cash and cash equivalents
Assets:
Money market funds	12,769	3,600
Other long-term assets
Assets:
Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan	3,620	3,848
Interest rate swaps	3,646	874
Other long-term liabilities
Liabilities:
Interest rate swap		455
Contingent consideration	94,510	93,700
Level 1
Assets:
Assets	16,389	7,448
Level 1 | Cash and cash equivalents
Assets:
Money market funds	12,769	3,600
Level 1 | Other long-term assets
Assets:
Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan	3,620	3,848
Level 2
Assets:
Assets	3,646	874
Liabilities:
Liabilities		455
Level 2 | Other long-term assets
Assets:
Interest rate swaps	3,646	874
Level 2 | Other long-term liabilities
Liabilities:
Interest rate swap		455
Level 3
Liabilities:
Liabilities	94,510	93,700
Level 3 | Other long-term liabilities
Liabilities:
Contingent consideration	$ 94,510	$ 93,700

FINANCIAL INSTRUMENTS AND FAI_6

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Nonrecurring (Details)	Sep. 30, 2022	Dec. 31, 2021
Discount Rate | Valuation Technique, Discounted Cash Flow
Fair value measurement
Measurement input	10.6	9

FINANCIAL INSTRUMENTS AND FAI_7

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Changes in Fair Value of Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balances	$ 93,700
Change in fair value included in operating income	$ 810
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income	Operating income
Ending Balances	$ 94,510

ACQUISITION - MoLo (Details)

ACQUISITION - MoLo (Details) - USD ($) $ in Thousands		9 Months Ended
	Nov. 01, 2021	Sep. 30, 2022
Business Acquisition
Business acquisition, net of cash acquired		$ 2,279
MoLo Solutions, LLC
Business Acquisition
Business acquisition, net of cash acquired		2,300
Purchase Consideration
Net cash consideration, including estimated post-closing adjustments	$ 235,751	$ 235,800
Contingent consideration	93,700
Total purchase consideration	$ 329,451
MoLo Solutions, LLC | 100% of target
Business Acquisition
Adjusted EBITDA target percentage	100%
Contingent consideration, target	$ 215,000
MoLo Solutions, LLC | 80% of target
Business Acquisition
Adjusted EBITDA target percentage	80%
Contingent consideration, low range	$ 95,000
MoLo Solutions, LLC | 300% of target
Business Acquisition
Adjusted EBITDA target percentage	300%
Contingent consideration, high range	$ 455,000

ACQUISITION - Estimated Fair Va

ACQUISITION - Estimated Fair Values of Acquired Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Purchase Allocation
Goodwill	$ 307,252	$ 300,337
MoLo Solutions, LLC
Purchase Allocation
Accounts receivable	130,206
Prepaid expenses	468
Property and equipment	2,309
Operating lease right-of use assets	844
Intangible assets	76,900
Other assets	170
Total identifiable assets acquired	210,897
Accounts payable	97,199
Accrued expenses and other current liabilities	4,148
Operating lease liabilities	983
Total liabilities	102,330
Total identifiable net assets	108,567
Goodwill	220,884
Net assets acquired	$ 329,451

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill by reportable operating segment
Balance at the beginning of the period	$ 300,337
Purchase accounting adjustment	6,915
Balance at the end of the period	307,252
ArcBest
Goodwill by reportable operating segment
Balance at the beginning of the period	299,707
Purchase accounting adjustment	6,915
Balance at the end of the period	306,622
FleetNet
Goodwill by reportable operating segment
Balance at the beginning of the period	630
Balance at the end of the period	$ 630

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite-lived intangible assets
Weighted Average Amortization Period	11 years
Cost	$ 130,689	$ 130,656
Accumulated Amortization	46,067	36,376
Net Value	84,622	94,280
Total intangible assets
Cost	162,989	162,956
Net Value	116,922	126,580
Trade name
Indefinite-lived intangible assets
Net Value	$ 32,300	32,300
Customer relationships
Finite-lived intangible assets
Weighted Average Amortization Period	12 years
Cost	$ 100,321	100,321
Accumulated Amortization	41,489	35,072
Net Value	$ 58,832	65,249
Other intangible assets
Finite-lived intangible assets
Weighted Average Amortization Period	8 years
Cost	$ 30,368	30,335
Accumulated Amortization	4,578	1,304
Net Value	$ 25,790	$ 29,031

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Future amortization for intangible assets
Remainder of 2022	$ 3,229
2023	12,826
2024	12,793
2025	12,778
2026	8,671
Thereafter	34,325
Net Value	$ 84,622	$ 94,280

INCOME TAXES - Tax Rate (Detail

INCOME TAXES - Tax Rate (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
INCOME TAXES
Effective tax rate (as a percent)	22.70%	26.10%	23.30%	22.50%
State tax, low end of range of rate (as a percent)	6%	6%	6%	6%
State tax, high end of range of rate (as a percent)	6.50%	6.50%	6.50%	6.50%

INCOME TAXES - Allowance (Detai

INCOME TAXES - Allowance (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Deferred tax assets:
Valuation allowance	$ 2.4	$ 2.2

INCOME TAXES - Taxes Paid (Deta

INCOME TAXES - Taxes Paid (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income taxes
Income taxes paid (in dollars)	$ 87.5	$ 43
Federal and state
Income taxes
Income tax refunds received (in dollars)	$ 1.2
Federal and state | Maximum
Income taxes
Income tax refunds received (in dollars)		$ 0.1

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
LEASES
Operating lease expense	$ 8,666	$ 6,575	$ 23,116	$ 19,801
Variable lease expense	1,176	957	3,220	3,252
Sublease income	(286)	(157)	(544)	(468)
Total operating lease expense	$ 9,556	$ 7,375	$ 25,792	$ 22,585

LEASES - Cash Flows (Details)

LEASES - Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating leases
Noncash change in operating right-of-use assets	$ 20,356	$ 17,256
Change in operating lease liabilities	(18,777)	(16,606)
Operating right-of-use assets and lease liabilities, net	1,579	650
Cash paid for amounts included in the measurement of operating lease liabilities	$ (21,526)	$ (19,128)

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Maturities of operating lease liabilities
Remainder of 2022	$ 7,277
2023	30,182
2024	28,601
2025	24,856
2026	22,616
Thereafter	83,884
Total lease payments	197,416
Less imputed interest	(26,596)
Total operating lease liabilities	$ 170,820
Operating Lease, Liability, Statement of Financial Position	Operating Lease, Liability, Current, Operating Lease, Liability, Noncurrent
Land and Structures
Maturities of operating lease liabilities
Remainder of 2022	$ 7,178
2023	29,760
2024	28,302
2025	24,856
2026	22,616
Thereafter	83,884
Total lease payments	196,596
Less imputed interest	(26,563)
Total operating lease liabilities	170,033
Future minimum payments for leases that have not yet commenced	$ 41,100
Lease term for lease commitments that have not yet commenced	10 years
Equipment and Others
Maturities of operating lease liabilities
Remainder of 2022	$ 99
2023	422
2024	299
Total lease payments	820
Less imputed interest	(33)
Total operating lease liabilities	$ 787

LONG-TERM DEBT AND FINANCING _3

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Long-term debt obligations
Long-term debt	$ 253,319	$ 225,532
Less current portion	63,521	50,615
Long-term debt, less current portion	189,798	174,917
Credit Facility
Long-term debt obligations
Long-term debt	$ 50,000	50,000
Interest rate (as a percent)	4.20%
Credit Facility | Interest rate swap agreement
Long-term debt obligations
Amount of borrowings covered by the interest rate swap	$ 50,000	$ 50,000
Effective fixed interest rate on hedged borrowings (as a percent)	1.56%	3.12%
Notes payable
Long-term debt obligations
Long-term debt	$ 203,319	$ 175,530
Weighted-average interest rate (as a percent)	3%
Finance lease obligations
Long-term debt obligations
Long-term debt		$ 2

LONG-TERM DEBT AND FINANCING _4

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Maturities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Maturities of long-term debt obligations
Due in one year or less	$ 71,428
Due after one year through two years	62,723
Due after two years through three years	94,012
Due after three years through four years	27,888
Due after four years through five years	14,421
Due after five years	379
Total payments	270,851
Less amounts representing interest	17,532
Long-term debt	253,319
Credit Facility
Maturities of long-term debt obligations
Due in one year or less	2,754
Due after one year through two years	2,638
Due after two years through three years	50,000
Total payments	55,392
Less amounts representing interest	5,392
Long-term debt	50,000
Notes payable
Maturities of long-term debt obligations
Due in one year or less	68,674
Due after one year through two years	60,085
Due after two years through three years	44,012
Due after three years through four years	27,888
Due after four years through five years	14,421
Due after five years	379
Total payments	215,459
Less amounts representing interest	12,140
Long-term debt	$ 203,319

LONG-TERM DEBT AND FINANCING _5

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Assets Securing Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Arrangements
Total assets securing notes payable or held under finance leases	$ 313,968	$ 271,665
Less accumulated depreciation and amortization	106,769	88,696
Net assets securing notes payable or held under finance leases	207,199	182,969
Revenue equipment
Financing Arrangements
Total assets securing notes payable or held under finance leases	274,540	241,892
Service, office, and other equipment
Financing Arrangements
Total assets securing notes payable or held under finance leases	$ 39,428	$ 29,773

LONG-TERM DEBT AND FINANCING _6

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Credit Facility (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Oct. 07, 2022
Financing Arrangements
Borrowings under credit facilities			$ 58,000
Repayment of debt			99,567	$ 76,513
Outstanding letters of credit			10,600
Credit Facility
Financing Arrangements
Maximum borrowing capacity			250,000
Additional borrowing capacity that may be requested			125,000
Borrowings under credit facilities		$ 58,000
Repayment of debt	$ 38,000	$ 20,000
Remaining borrowing capacity			200,000
Swing Line Facility
Financing Arrangements
Maximum borrowing capacity			25,000
Swing Line Facility | Subsequent Event
Financing Arrangements
Maximum borrowing capacity					$ 40,000
Letters of Credit, Sub-Facility
Financing Arrangements
Maximum borrowing capacity			$ 20,000

LONG-TERM DEBT AND FINANCING _7

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Interest Rate Swaps (Details) - USD ($) $ in Millions	Oct. 18, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 02, 2020
Interest rate swap agreement | Credit Facility
Financing Arrangements
Amount of borrowings covered by the interest rate swap		$ 50		$ 50
Effective fixed interest rate on hedged borrowings (as a percent)		1.56%		3.12%
Interest rate swap agreement, maturing on June 30, 2022
Financing Arrangements
Notional amount					$ 50
Interest rate swap agreement, maturing on June 30, 2022 | Other long-term liabilities
Financing Arrangements
Fair value of interest rate swap, liability				$ 0.5
Interest rate swap agreement, maturing on October 1, 2024
Financing Arrangements
Notional amount		$ 50	$ 50
Fixed interest rate payments (as a percent)			0.43%
Interest rate swap agreement, maturing on October 1, 2024 | Subsequent Event
Financing Arrangements
Notional amount	$ 50
Fixed interest rate payments (as a percent)	0.33%
Effective fixed interest rate on hedged borrowings (as a percent)	1.55%
Interest rate swap agreement, maturing on October 1, 2024 | Other long-term assets
Financing Arrangements
Fair value of interest rate swap, asset		3.6		$ 0.9
Interest rate swap agreement, maturing on October 1, 2024 | Credit Facility
Financing Arrangements
Amount of borrowings covered by the interest rate swap		$ 50
Effective fixed interest rate on hedged borrowings (as a percent)		1.56%

LONG-TERM DEBT AND FINANCING _8

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Securitization Program (Details) $ in Millions	Sep. 30, 2022 USD ($)
Financing Arrangements
Outstanding letters of credit	$ 10.6
Accounts receivable securitization program
Financing Arrangements
Maximum borrowing capacity	50
Additional borrowing capacity that may be requested	100
Outstanding letters of credit	10
Remaining borrowing capacity	$ 40

LONG-TERM DEBT AND FINANCING _9

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Letters of Credit & Surety Bonds (Details) $ in Millions	Sep. 30, 2022 USD ($)
Financing Arrangements
Outstanding letters of credit	$ 10.6
Accounts receivable securitization program
Financing Arrangements
Outstanding letters of credit	10
Surety bonds
Financing Arrangements
Outstanding surety bonds under uncollateralized bond programs	$ 62.6

LONG-TERM DEBT AND FINANCING_10

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Notes Payable (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Notes payable
Financing Arrangements
Assets financed during the period under promissory note arrangements	$ 42.6	$ 69.4

POSTRETIREMENT BENEFIT PLANS -

POSTRETIREMENT BENEFIT PLANS - Components of Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Components of net periodic benefit cost (credit)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income	Other, net	Other, net	Other, net	Other, net
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income	Other, net	Other, net	Other, net	Other, net
Supplemental Benefit Plan
Components of net periodic benefit cost (credit)
Interest cost	$ 2	$ 1	$ 5	$ 3
Amortization of net actuarial (gain) loss	2	2	6	7
Net periodic benefit cost (credit)	4	3	11	10
Postretirement Health Benefit Plan
Components of net periodic benefit cost (credit)
Service cost	39	48	117	144
Interest cost	111	107	331	321
Amortization of net actuarial (gain) loss	(192)	(137)	(574)	(411)
Net periodic benefit cost (credit)	$ (42)	$ 18	$ (126)	$ 54

POSTRETIREMENT BENEFIT PLANS _2

POSTRETIREMENT BENEFIT PLANS - Multiemployer Plans (Details)	9 Months Ended
	Sep. 30, 2022 plan
Nonunion Defined Benefit Pension Plan | Asset Based
Multiemployer Plans
Number of multiemployer plans to which ABF Freight currently contributes	25

STOCKHOLDERS' EQUITY - AOCI (De

STOCKHOLDERS' EQUITY - AOCI (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income
Total after-tax amount	$ 1,126,292	$ 1,063,212	$ 983,172	$ 929,067	$ 961,043	$ 898,134	$ 851,909	$ 828,593
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income
Total pre-tax amount	5,359			4,977
Total after-tax amount	3,978	$ 4,974	$ 5,323	3,699	1,887	$ 2,672	$ 1,994	1,190
Unrecognized Net Periodic Benefit Credit
Accumulated Other Comprehensive Income
Total pre-tax amount	5,034			5,602
Total after-tax amount	3,738			4,160	2,960			3,260
Interest Rate Swap
Accumulated Other Comprehensive Income
Total pre-tax amount	3,646			419
Total after-tax amount	2,692			309	(329)			(1,198)
Foreign Currency Translation
Accumulated Other Comprehensive Income
Total pre-tax amount	(3,321)			(1,044)
Total after-tax amount	$ (2,452)			$ (770)	$ (744)			$ (872)

STOCKHOLDERS' EQUITY - AOCI Com

STOCKHOLDERS' EQUITY - AOCI Components (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in accumulated other comprehensive income, net of tax, by component
Balances	$ 1,063,212	$ 983,172	$ 929,067	$ 898,134	$ 851,909	$ 828,593	$ 929,067	$ 828,593
OTHER COMPREHENSIVE INCOME (LOSS), net of tax	(996)	(349)	1,624	(785)	678	804	279	697
Balances	1,126,292	1,063,212	983,172	961,043	898,134	851,909	1,126,292	961,043
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income, net of tax, by component
Balances	4,974	5,323	3,699	2,672	1,994	1,190	3,699	1,190
Other comprehensive income (loss) before reclassifications							701	997
Amounts reclassified from accumulated other comprehensive income							(422)	(300)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax	(996)	(349)	1,624	(785)	678	804	279	697
Balances	3,978	$ 4,974	5,323	1,887	$ 2,672	1,994	3,978	1,887
Unrecognized Net Periodic Benefit Credit
Changes in accumulated other comprehensive income, net of tax, by component
Balances			4,160			3,260	4,160	3,260
Amounts reclassified from accumulated other comprehensive income							(422)	(300)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax							(422)	(300)
Balances	3,738			2,960			3,738	2,960
Interest Rate Swap
Changes in accumulated other comprehensive income, net of tax, by component
Balances			309			(1,198)	309	(1,198)
Other comprehensive income (loss) before reclassifications							2,383	869
OTHER COMPREHENSIVE INCOME (LOSS), net of tax							2,383	869
Balances	2,692			(329)			2,692	(329)
Foreign Currency Translation
Changes in accumulated other comprehensive income, net of tax, by component
Balances			$ (770)			$ (872)	(770)	(872)
Other comprehensive income (loss) before reclassifications							(1,682)	128
OTHER COMPREHENSIVE INCOME (LOSS), net of tax							(1,682)	128
Balances	$ (2,452)			$ (744)			$ (2,452)	$ (744)

STOCKHOLDERS' EQUITY - Reclass

STOCKHOLDERS' EQUITY - Reclass (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Unrecognized Net Periodic Benefit Credit
Significant reclassifications out of accumulated other comprehensive loss by component
Tax expense	$ (146)	$ (104)
Total, net of tax	422	300
Amortization of net actuarial gain
Significant reclassifications out of accumulated other comprehensive loss by component
Total, pre-tax	$ 568	$ 404

STOCKHOLDERS' EQUITY - Dividend

STOCKHOLDERS' EQUITY - Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Oct. 28, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Dividends on Common Stock
Dividends declared (in dollars per share)		$ 0.12	$ 0.12	$ 0.08	$ 0.08	$ 0.08	$ 0.08
Dividend Amount		$ 2,965	$ 2,949	$ 1,978	$ 2,050	$ 2,058	$ 2,037
Subsequent Event
Dividends on Common Stock
Dividends declared (in dollars per share)	$ 0.12

STOCKHOLDERS' EQUITY - Treasury

STOCKHOLDERS' EQUITY - Treasury Stock (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Apr. 30, 2022	Nov. 02, 2021
Treasury Stock
Purchases of treasury stock						$ (50,117)	$ (8,100)
Cost of repurchased shares	$ 18,880	$ 14,731		$ 7,099	$ 1,001
Treasury stock, at cost, shares	5,340,836					5,340,836		4,492,514
Existing Share Repurchase Program and ASR
Treasury Stock
Number of shares repurchased during the period						848,322
Cost of repurchased shares						$ 75,100
Amount available for repurchase								$ 66,900
Existing Share Repurchase Program
Treasury Stock
Amount of stock repurchases authorized									$ 75,000
Cost of repurchased shares			$ 16,506
Amount available for repurchase	$ 41,400					$ 41,400
Accelerated Share Repurchase Agreement ("ASR")
Treasury Stock
Amount paid in accelerated repurchase										$ 100,000
Number of shares repurchased during the period						214,763
Cost of repurchased shares						$ 25,000		75,000
Amount of unsettled forward contract classified within stockholders' equity as additional paid in capital.								$ 25,000

EARNINGS PER SHARE - Basic And

EARNINGS PER SHARE - Basic And Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic, numerator:
Net income, Basic	$ 88,842	$ 63,691	$ 260,872	$ 148,033
Basic, denominator:
Weighted-average shares	24,605,228	25,632,805	24,640,706	25,559,642
Earnings per common share (in dollars per share)	$ 3.61	$ 2.48	$ 10.59	$ 5.79
Diluted, numerator:
Net income, Diluted	$ 88,842	$ 63,691	$ 260,872	$ 148,033
Diluted, denominator:
Weighted-average shares	24,605,228	25,632,805	24,640,706	25,559,642
Effect of dilutive securities	767,527	1,137,341	985,519	1,312,739
Adjusted weighted-average shares and assumed conversions	25,372,755	26,770,146	25,626,225	26,872,381
Earnings per common share (in dollars per share)	$ 3.50	$ 2.38	$ 10.18	$ 5.51

OPERATING SEGMENT DATA - Revenu

OPERATING SEGMENT DATA - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 1,351,831	$ 1,016,657	$ 4,079,834	$ 2,794,843
Asset Based
Revenues
Revenues	778,473	655,737	2,242,964	1,815,606
ArcBest
Revenues
Revenues	503,182	303,076	1,633,684	821,355
FleetNet
Revenues
Revenues	72,318	56,656	207,505	155,041
Operating Segments | Asset Based
Revenues
Revenues	791,531	681,164	2,299,464	1,890,288
Operating Segments | ArcBest
Revenues
Revenues	515,235	305,207	1,660,174	828,291
Operating Segments | FleetNet
Revenues
Revenues	89,276	66,514	249,786	185,224
Other and eliminations
Revenues
Revenues	$ (44,211)	$ (36,228)	$ (129,590)	$ (108,960)

OPERATING SEGMENT DATA - Operat

OPERATING SEGMENT DATA - Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING EXPENSES
Salaries, wages, and benefits	$ 451,824	$ 397,116	$ 1,321,871	$ 1,145,657
Fuel, supplies, and expenses	112,834	82,051	331,759	235,221
Depreciation and amortization	34,707	30,359	104,860	90,995
Gain on sale of subsidiary			(402)	(6,923)
Gain on sale of property and equipment			(9,759)	(8,389)
Other	40,074	36,811	118,922	89,062
Total consolidated operating expenses	1,236,070	929,096	3,731,799	2,600,792
ArcBest
OPERATING EXPENSES
Gain on sale of subsidiary				(6,900)
Operating Segments | Asset Based
OPERATING EXPENSES
Salaries, wages, and benefits	332,359	305,839	973,924	893,903
Fuel, supplies, and expenses	97,279	66,947	281,406	192,477
Operating taxes and licenses	13,089	12,426	38,405	36,977
Insurance	13,180	10,175	35,808	28,568
Communications and utilities	4,794	4,559	14,129	14,192
Depreciation and amortization	24,117	23,233	72,885	70,025
Rents and purchased transportation	123,714	95,855	348,249	266,525
Shared services	72,286	71,017	215,020	196,255
Gain on sale of property and equipment	(5,910)		(9,975)	(8,624)
Innovative technology costs	6,068	6,903	20,982	21,303
Other	1,243	592	2,629	1,103
Total consolidated operating expenses	682,219	597,546	1,993,462	1,712,704
Operating Segments | Asset Based | Land and structures
OPERATING EXPENSES
Gain on sale of property and equipment				(8,600)
Noncash gain on a like-kind property exchange of a service center	4,300		4,300
Operating Segments | ArcBest
OPERATING EXPENSES
Purchased transportation	425,567	256,900	1,382,107	694,498
Supplies and expenses	4,378	2,741	11,907	7,785
Depreciation and amortization	5,072	2,352	15,720	7,104
Shared services	56,371	31,048	164,554	86,198
Gain on sale of subsidiary			(402)	(6,923)
Other	8,463	1,984	22,309	6,055
Total consolidated operating expenses	499,851	295,025	1,596,195	794,717
Operating Segments | FleetNet
OPERATING EXPENSES
Total consolidated operating expenses	88,395	65,245	245,596	181,794
Other and eliminations
OPERATING EXPENSES
Total consolidated operating expenses	$ (34,395)	$ (28,720)	$ (103,454)	$ (88,423)

OPERATING SEGMENT DATA - Income

OPERATING SEGMENT DATA - Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING INCOME
Operating income	$ 115,761	$ 87,561	$ 348,035	$ 194,051
OTHER INCOME (COSTS)
Interest and dividend income	1,147	323	1,614	1,037
Interest and other related financing costs	(1,749)	(2,072)	(5,551)	(6,774)
Other, net	(189)	338	(3,822)	2,641
TOTAL OTHER INCOME (COSTS)	(791)	(1,411)	(7,759)	(3,096)
INCOME BEFORE INCOME TAXES	114,970	86,150	340,276	190,955
Operating Segments | Asset Based
OPERATING INCOME
Operating income	109,312	83,618	306,002	177,584
Operating Segments | ArcBest
OPERATING INCOME
Operating income	15,384	10,182	63,979	33,574
Operating Segments | FleetNet
OPERATING INCOME
Operating income	881	1,269	4,190	3,430
Other and eliminations
OPERATING INCOME
Operating income	$ (9,816)	$ (7,508)	$ (26,136)	$ (20,537)

OPERATING SEGMENT DATA - Reve_2

OPERATING SEGMENT DATA - Revenue from Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 1,351,831	$ 1,016,657	$ 4,079,834	$ 2,794,843
Asset Based
Revenues
Revenues	778,473	655,737	2,242,964	1,815,606
ArcBest
Revenues
Revenues	503,182	303,076	1,633,684	821,355
FleetNet
Revenues
Revenues	72,318	56,656	207,505	155,041
Corporate and Other
Revenues
Revenues	(2,142)	1,188	(4,319)	2,841
Operating Segments | Asset Based
Revenues
Revenues	791,531	681,164	2,299,464	1,890,288
Operating Segments | ArcBest
Revenues
Revenues	515,235	305,207	1,660,174	828,291
Operating Segments | FleetNet
Revenues
Revenues	89,276	66,514	249,786	185,224
Intersegment revenues
Revenues
Revenues	(42,069)	(37,416)	(125,271)	(111,801)
Intersegment revenues | Asset Based
Revenues
Revenues	13,058	25,427	56,500	74,682
Intersegment revenues | ArcBest
Revenues
Revenues	12,053	2,131	26,490	6,936
Intersegment revenues | FleetNet
Revenues
Revenues	16,958	9,858	42,281	30,183
Other and eliminations
Revenues
Revenues	$ (44,211)	$ (36,228)	$ (129,590)	$ (108,960)

OPERATING SEGMENT DATA - Oper_2

OPERATING SEGMENT DATA - Operating Expenses by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING EXPENSES
Salaries, wages, and benefits	$ 451,824	$ 397,116	$ 1,321,871	$ 1,145,657
Rents, purchased transportation, and other costs of services	596,631	382,759	1,854,387	1,039,857
Fuel, supplies, and expenses	112,834	82,051	331,759	235,221
Depreciation and amortization	34,707	30,359	104,860	90,995
Other	40,074	36,811	118,922	89,062
Total consolidated operating expenses	$ 1,236,070	$ 929,096	3,731,799	2,600,792
Gain on sale of subsidiaries			402	6,923
Gain on sale of property and equipment			$ 9,759	8,389
ArcBest
OPERATING EXPENSES
Gain on sale of subsidiaries				$ 6,900