Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 18, 2019 | Jun. 29, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | US XPRESS ENTERPRISES INC | ||
Entity Central Index Key | 923,571 | ||
Trading Symbol | usx | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Public Float | $ 484.9 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false | ||
Common Class A [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 32,859,291 | ||
Common Class B [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 15,486,560 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash and cash equivalents | $ 9,892 | $ 9,232 |
Customer receivables, net of allowance of $59 and $122 at December 31, 2018 and 2017, respectively | 190,254 | 186,407 |
Other receivables | 20,430 | 21,637 |
Prepaid insurance and licenses | 11,035 | 7,070 |
Operating supplies | 7,324 | 8,787 |
Assets held for sale | 33,225 | 3,417 |
Other current assets | 13,374 | 12,170 |
Total current assets | 285,534 | 248,720 |
Property and equipment, at cost | 898,530 | 835,814 |
Less accumulated depreciation and amortization | (379,813) | (371,909) |
Net property and equipment | 518,717 | 463,905 |
Other assets | ||
Goodwill | 57,708 | 57,708 |
Intangible assets, net | 28,913 | 30,742 |
Other | 19,615 | 19,496 |
Total other assets | 106,236 | 107,946 |
Total assets | 910,487 | 820,571 |
Current liabilities | ||
Accounts payable | 63,808 | 80,555 |
Book overdraft | 3,537 | |
Accrued wages and benefits | 24,960 | 20,530 |
Claims and insurance accruals, current | 47,442 | 47,641 |
Other accrued liabilities | 8,120 | 13,901 |
Total current liabilities associated with assets held for sale | 6,856 | |
Current maturities of long-term debt | 113,094 | 132,332 |
Total current liabilities | 264,280 | 298,496 |
Long-term debt, net of current maturities | 312,819 | 480,472 |
Less unamortized discount and debt issuance costs | (1,347) | (7,266) |
Net long-term debt | 311,472 | 473,206 |
Deferred income taxes | 19,978 | 15,630 |
Long-term liabilities associated with assets held for sale | 8,353 | |
Other long-term liabilities | 7,713 | 14,350 |
Claims and insurance accruals, long-term | 60,304 | 56,713 |
Commitments and contingencies (Notes 11 and 13) | ||
Redeemable restricted units | 3,281 | |
Stockholders' Equity (Deficit) | ||
Additional paid-in capital | 251,742 | 1 |
Accumulated deficit | (17,335) | (43,459) |
Stockholders' equity (deficit) | 234,891 | (43,394) |
Noncontrolling interest | 3,496 | 2,289 |
Total stockholders' equity (deficit) | 238,387 | (41,105) |
Total liabilities, redeemable restricted units and stockholder's equity (deficit) | 910,487 | 820,571 |
Common Class A [Member] | ||
Stockholders' Equity (Deficit) | ||
Common stock | 329 | 64 |
Common Class B [Member] | ||
Stockholders' Equity (Deficit) | ||
Common stock | $ 155 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Allowance | $ 59 | $ 122 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 140,000,000 | 30,000,000 |
Common stock, shares issued (in shares) | 32,859,292 | 6,384,877 |
Common stock, shares outstanding (in shares) | 32,859,292 | 6,384,877 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 35,000,000 | 0 |
Common stock, shares issued (in shares) | 15,486,560 | 0 |
Common stock, shares outstanding (in shares) | 15,486,560 | 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating revenue | |||
Operating revenues | $ 1,804,915 | $ 1,555,385 | $ 1,451,205 |
Operating expenses | |||
Salaries, wages, and benefits | 535,994 | 543,735 | 510,599 |
Fuel and fuel taxes | 227,525 | 219,515 | 186,257 |
Vehicle rents | 78,639 | 74,377 | 109,466 |
Depreciation and amortization, net of (gain) loss on sale of property | 97,954 | 93,369 | 71,597 |
Operating expenses and supplies | 118,064 | 126,700 | 124,102 |
Insurance premiums and claims | 85,075 | 77,430 | 69,722 |
Operating taxes and licenses | 14,133 | 13,769 | 13,432 |
Communications and utilities | 9,575 | 7,683 | 8,604 |
General and other operating expenses | 66,412 | 61,575 | 54,004 |
Impairment of assets held for sale | 10,693 | ||
Total operating expenses | 1,726,009 | 1,526,777 | 1,423,474 |
Operating income | 78,906 | 28,608 | 27,731 |
Other expense (income) | |||
Interest expense, net | 34,866 | 49,758 | 48,178 |
Gain on sale of Xpress Global Systems | (1,026) | ||
Early extinguishment of debt | 7,753 | ||
Impairment of equity method investments | 1,804 | ||
Equity in loss of affiliated companies | 381 | 1,350 | 3,202 |
Other, net | 136 | (350) | 773 |
44,940 | 49,732 | 52,153 | |
Income (loss) before income tax provision (benefit) | 33,966 | (21,124) | (24,422) |
Income tax provision (benefit) | 7,860 | (17,187) | (8,448) |
Net total and comprehensive income (loss) | 26,106 | (3,937) | (15,974) |
Net total and comprehensive income attributable to noncontrolling interest | 1,207 | 123 | 550 |
Net total and comprehensive income (loss) attributable to controlling interest | $ 24,899 | $ (4,060) | $ (16,524) |
Earnings (loss) per share | |||
Basic earnings per share (in dollars per share) | $ 0.84 | $ (0.64) | $ (2.59) |
Basic weighted average shares outstanding (in shares) | 29,470 | 6,385 | 6,385 |
Diluted earnings per share (in dollars per share) | $ 0.83 | $ (0.64) | $ (2.59) |
Diluted weighted average shares outstanding (in shares) | 30,133 | 6,385 | 6,385 |
Cargo and Freight [Member] | |||
Operating revenue | |||
Operating revenues | $ 1,622,083 | $ 1,417,173 | $ 1,348,023 |
Fuel Surcharge [Member] | |||
Operating revenue | |||
Operating revenues | 182,832 | 138,212 | 103,182 |
Shipping and Handling [Member] | |||
Operating expenses | |||
Purchased transportation | $ 481,945 | $ 308,624 | $ 275,691 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Issuance of Class A Stock [Member]Common Stock [Member]Common Class A [Member] | Issuance of Class A Stock [Member]Additional Paid-in Capital [Member] | Issuance of Class A Stock [Member]Retained Earnings [Member] | Issuance of Class B Stock [Member]Common Stock [Member]Common Class B [Member] | Issuance of Class B Stock [Member]Additional Paid-in Capital [Member] | Issuance of Class B Stock [Member]Retained Earnings [Member] | Issuance of Class A Stock, Two [Member]Common Stock [Member]Common Class A [Member] | Issuance of Class A Stock, Two [Member]Common Stock [Member]Common Class B [Member] | Issuance of Class A Stock, Two [Member]Additional Paid-in Capital [Member] | Issuance of Class A Stock, Two [Member]Retained Earnings [Member] | Issuance of Class A Stock, Two [Member]Noncontrolling Interest [Member] | Issuance of Class A Stock, Two [Member]Redeemable Restricted Units [Member] | Issuance of Class A Stock, Two [Member] | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Redeemable Restricted Units [Member] | Total |
Balance at Dec. 31, 2015 | $ 64 | $ 1 | $ (22,875) | $ 1,616 | $ 2,910 | $ (21,194) | ||||||||||||||
Amortization of restricted stock | 520 | |||||||||||||||||||
Dividend of repurchased membership units | (299) | |||||||||||||||||||
Realized gain on fuel hedge, net of tax | ||||||||||||||||||||
Net income | (16,524) | 550 | (15,974) | |||||||||||||||||
Balance at Dec. 31, 2016 | 64 | 1 | (39,399) | 2,166 | 3,131 | (37,168) | ||||||||||||||
Amortization of restricted stock | 673 | |||||||||||||||||||
Dividend of repurchased membership units | (523) | |||||||||||||||||||
Net income | (4,060) | 123 | (3,937) | |||||||||||||||||
Balance at Dec. 31, 2017 | 64 | 1 | (43,459) | 2,289 | 3,281 | (41,105) | ||||||||||||||
Dividend of repurchased membership units | (217) | |||||||||||||||||||
Net income | 24,899 | 1,207 | 26,106 | |||||||||||||||||
Share based compensation | 1,856 | 391 | 1,856 | |||||||||||||||||
Adoption of ASC 606 (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2017 | 1,459 | 1,459 | ||||||||||||||||||
Cancel 6,384,877 US Xpress Enterprises shares | (64) | 64 | ||||||||||||||||||
Issuance of shares in Reorganization | $ 160 | $ (11) | $ (149) | $ 155 | $ (6) | $ (149) | ||||||||||||||
Transfer from temporary equity to permanent equity | 3,455 | (3,455) | 3,455 | |||||||||||||||||
Issuance of 16,668,000 shares of Class A stock in Initial Public Offering, net of underwriting discounts and offering costs | $ 167 | $ 246,449 | $ 246,616 | |||||||||||||||||
Vesting of 144,667 restricted units | 2 | (2) | ||||||||||||||||||
Balance at Dec. 31, 2018 | $ 329 | $ 155 | $ 251,742 | $ (17,335) | $ 3,496 | $ 238,387 |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Deficit) (Parentheticals) | 12 Months Ended |
Dec. 31, 2018shares | |
Issuance of Class A Stock [Member] | |
Issuance of shares, shares (in shares) | 16,046,624 |
Issuance of Class B Stock [Member] | |
Issuance of shares, shares (in shares) | 15,486,560 |
Issuance of Class A Stock, Two [Member] | |
Issuance of shares, shares (in shares) | 16,668,000 |
Shares cancelled (in shares) | 6,384,877 |
Issuance of shares, shares (in shares) | 16,668,000 |
Vesting restricted units, shares (in shares) | 144,667 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||
Net income (loss) | $ 26,106 | $ (3,937) | $ (15,974) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Early extinguishment of debt | 7,753 | ||
Impairments of assets held for sale and equity method investments | 12,497 | ||
Equity in loss of affiliated companies | 381 | 1,350 | 3,202 |
Gain on life insurance proceeds | (4,000) | ||
Deferred income tax provision (benefit) | 5,691 | (20,156) | (12,245) |
Provision for losses on receivables | 104 | 9 | |
Depreciation and amortization | 90,831 | 91,340 | 65,775 |
Losses on sale of equipment | 7,123 | 2,029 | 5,822 |
Share based compensation | 2,248 | 673 | 520 |
Original issue discount and deferred financing amortization | 1,728 | 3,791 | 5,517 |
Interest paid-in-kind | (7,516) | 1,452 | 1,817 |
Gain on sale of Xpress Global Systems | (1,026) | ||
Purchase commitment interest (income) expense | (192) | (698) | 883 |
Changes in operating assets and liabilities: | |||
Receivables | (8,972) | (32,051) | 13,114 |
Prepaid insurance and licenses | (4,006) | 45 | (1,322) |
Operating supplies | 725 | (510) | 498 |
Other assets | (3,438) | (529) | (1,857) |
Accounts payable and other accrued liabilities | (21,020) | 41,930 | 10,291 |
Accrued wages and benefits | 6,304 | 1,691 | 939 |
Net cash provided by operating activities | 112,347 | 85,394 | 76,989 |
Investing activities | |||
Payments for purchases of property and equipment | (223,939) | (240,417) | (54,710) |
Proceeds from sales of property and equipment | 55,370 | 32,183 | 43,723 |
Proceeds on life insurance | 2,980 | ||
Acquisition of business | (2,219) | ||
Other | (500) | (758) | (360) |
Net cash used in investing activities | (166,089) | (211,211) | (11,347) |
Financing activities | |||
Borrowings under lines of credit | 292,332 | 387,973 | 344,681 |
Payments under lines of credit | (321,665) | (358,640) | (344,680) |
Borrowings under long-term debt | 362,013 | 224,102 | 47,847 |
Payments of long-term debt | (504,180) | (118,834) | (102,126) |
Payments of financing costs and original issue discount | (4,166) | (5,844) | (3,780) |
Proceeds from issuance of 16,668,000 shares, net of expenses | 246,616 | ||
Payments of long-term consideration for business acquistion | (1,010) | ||
Settlement of forward contract | (2,200) | ||
Repurchase of membership units | (217) | (523) | (299) |
Book overdraft | (3,537) | 3,537 | (4,150) |
Net cash provided by (used in) financing activities | 66,186 | 131,771 | (64,707) |
Cash included in assets held for sale | (11,784) | ||
Net change in cash and cash equivalents | 660 | 5,954 | 935 |
Cash and cash equivalents: | |||
Beginning of year | 9,232 | 3,278 | 2,343 |
End of year | 9,892 | 9,232 | 3,278 |
Supplemental disclosure of cash flow information | |||
Cash paid during the year for interest | 47,406 | 44,073 | 33,696 |
Cash paid (refunded) during the year for income taxes | 1,603 | (208) | 1,834 |
Supplemental disclosure of significant noncash investing and financing activities | |||
Lease conversion | 34,169 | ||
Capital lease additions | 439 | 1,505 | |
Assumption of debt | 5,377 | ||
Property and equipment amounts accrued in accounts payable | 1,213 | 1,196 | |
Financing costs accrued in accounts payable | 1,162 | ||
Uncollected proceeds from asset sales | 2,671 | 424 | 879 |
Capital Lease Obligations [Member] | |||
Supplemental disclosure of significant noncash investing and financing activities | |||
Capital lease extinguishments | $ 1,146 | $ 222 | $ 6,035 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) | 12 Months Ended |
Dec. 31, 2018shares | |
Issuance of shares, shares (in shares) | 16,668,000 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Organization and Operations U.S. Xpress Enterprises, Inc. and its consolidated subsidiaries (collectively, the “Company”, “we”, “us”, “our”, and similar expressions) provide transportation services throughout the United States and Mexico, with a focus in the densely populated and economically diverse eastern half of the United States. The Company offers its customers a broad portfolio of services using its own asset-based truckload fleet and third two third U.S. Xpress Enterprises, Inc. completed its initial public offering in June 2018 ( October 12, 2007 100% In connection with the Reorganization, we adopted the Second Amended and Restated Certificate of Incorporation of the Company, and converted into and exchanged the issued and outstanding membership units of New Mountain Lake immediately prior to the Reorganization for the Company’s common stock. We provided for the issuance of 4.6666667 4.6666667 one five 16,668,000 $16 $246.6 Under our Articles of Incorporation, our authorized capital stock consists of 140,000,000 $0.01 35,000,000 $0.01 9,333,333 may |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned and majority-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and such differences could be material. Significant estimates include useful lives of property and equipment and related salvage value, claims reserves for liability and workers’ compensation claims and valuation allowance for deferred tax assets. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investment instruments with an original maturity of three Customer Receivables and Allowances Customer receivables are recorded at the invoiced amount, net of allowances for uncollectible accounts and revenue adjustments. The allowances for uncollectible accounts and revenue adjustments are based on historical experience as well as any known trends or uncertainties related to customer billing and account collectability. The Company reviews the adequacy of its allowance for doubtful accounts on a quarterly basis. Past due balances over contractual payment terms and exceeding specified amounts are reviewed individually for collectability. Receivable balances are written off when collection is deemed unlikely. Operating Supplies Operating supplies consist primarily of parts, materials and supplies for servicing the Company’s revenue and service equipment. Operating supplies are recorded at the lower of cost (on a first first Assets Held for Sale Assets held for sale are comprised of revenue equipment no no twelve December 31, 2018, $5.2 $28.0 December 31, 2017, 5, Assets Held for Sale January 2019. Property and Equipment Property and equipment are carried at cost. Depreciation of property and equipment is computed using the straight-line method for financial reporting purposes and accelerated methods for tax purposes over the estimated useful lives of the related assets (net of salvage values ranging from 25.0% 50.0% Impairment of Long Lived Assets The Company reviews its long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not Goodwill In 2013, 2011 08, Testing Goodwill for Impairment, first two not not The quantitative impairment test consists of two first not second second second The Company performs an annual goodwill impairment analysis at the reporting unit level as of October 1 fourth 2018, fourth 2017 not Intangible Assets Customer relationships are valued as part of acquisition-related transactions using the income appraisal methodology. The income appraisal methodology includes a determination of the present value of future monetary benefits to be derived from the anticipated income, or ownership, of the subject asset. The value of customer relationships includes the value expected to be realized from existing contracts as well as from expected renewals of such contracts and is calculated using unweighted and weighted total undiscounted cash flows as part of the income appraisal methodology. Customer relationships are amortized over seven fifteen may not no 2018 2017. Trade names are valued based on various factors including the projected revenue stream associated with the intangible asset. The Company’s trade names have an indefinite life and are not fourth 2018 2017, not not Book Overdraft Book overdraft represents outstanding checks in excess of current cash levels. The Company funds its book overdraft from its line of credit and operating cash flows. Deferred Financing Costs The Company presents debt issuance costs as a direct deduction from the related debt, consistent with debt discounts. Debt issuance costs associated with revolving line-of-credit arrangements are presented as an asset. All such debt issuance costs are amortized ratably over the term of the arrangement. Term loan debt issuance costs excluding original issue discount, net of accumulated amortization were $1.3 $6.5 December 31, 2018 2017, $1.5 $3.2 December 31, 2018 2017, $0.2 $2.5 December 31, 2018 2017, $1.6 $3.4 $4.9 2018, 2017 2016, Recognition of Revenue The Company generates revenues primarily from shipments executed by the Company’s Truckload and Brokerage operations. Those shipments are the Company’s performance obligations, arising under contracts we have entered into with customers. Under such contracts, revenue is recognized when obligations are satisfied, which occurs over time with the transit of shipments from origin to destination. This is appropriate as the customer simultaneously receives and consumes the benefits as the Company performs its obligation. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. The most significant judgment used in recognition of revenue is the determination of miles driven as the basis for determining the amount of revenue to be recognized for partially fulfilled obligations. Accessorial charges for fuel surcharge, loading and unloading, stop charges, and other immaterial charges are part of the consideration we receive for the single performance obligation of delivering shipments. Contracts entered into with our customers do not The majority of revenue contracts with our customers have a duration of one not one $3.3 $1.5 December 31, 2018 Through the Company’s Brokerage operations, the Company outsources the transportation of the loads to third third The timing of revenue recognition, billings, cash collections, and allowance for doubtful accounts results in billed and unbilled receivables on our consolidated balance sheet. The Company receives the unconditional right to bill when shipments are delivered to their destination. We generally receive payment within 40 $2.9 December 31, 2018 $2.4 December 31, 2018. The following table presents the effect of the adoption of Accounting Standard Codification 606 606 December 31, 2018 ( (in thousands, except for per share amounts) As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Consolidated Statement of Comprehensive Income (Loss) Operating revenues $ 1,804,915 $ (945 ) $ 1,805,860 Total operating expenses 1,726,009 (1,847 ) 1,727,856 Operating income 78,906 902 78,004 Income before income tax provision 33,966 902 33,064 Income tax provision 7,860 262 7,598 Net income 26,106 640 25,466 Net income attributable to controlling interest 24,899 640 24,259 Basic earnings per share 0.84 0.02 0.82 Basic weighted average shares outstanding 29,470 29,470 29,470 Diluted earnings per share 0.83 0.02 0.81 Diluted weighted average shares outstanding 30,133 30,133 30,133 Reported Adjustments Under ASC 605 Balance at Due to Balance at December 31, 2018 ASC 606 December 31, 2018 Consolidated Balance Sheet Customer receivables $ 190,254 $ 2,906 $ 187,348 Other current assets 13,374 1,812 11,562 Total current assets 285,534 4,718 280,816 Total assets 910,487 4,718 905,769 Accounts payable 63,808 1,892 61,916 Other accrued liabilities 8,120 349 7,771 Deferred income taxes 19,978 378 19,600 Accumulated deficit (17,335 ) 2,099 (19,434 ) Stockholders' equity (deficit) 234,891 2,099 232,792 Total stockholder's equity (deficit) 238,387 2,099 236,288 Total liabilities, redeemable restricted units and stockholder's equity (deficit) 910,487 4,718 905,769 As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Operating Cash Flows Net income $ 26,106 $ 640 $ 25,466 Receivables (8,972 ) 945 (9,917 ) Other assets (3,438 ) (1,348 ) (2,090 ) Accounts payable and other accrued liabilities (21,020 ) (499 ) (20,521 ) Deferred income tax provision 5,691 262 5,429 Income Taxes Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the need for a valuation allowance on deferred tax assets based on whether it believes that it is more likely than not not The Company’s estimate of the potential outcome of any uncertain tax issue is subject to its assessment of relevant risks, facts and circumstances existing at that time. The Company accounts for uncertain tax positions in accordance with ASC 740, Income Taxes not The Act subjects a US shareholder to tax on Global Intangible Low-Taxed Income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Concentration of Credit Risk Concentrations of credit risk with respect to customer receivables are limited due to the large number of entities comprising the Company’s customer base and their dispersion across many different industries. Revenues from the Company’s largest customer accounted for 11.8% 2018. not Foreign Currency Foreign currency activity is reported in accordance with ASC 830, Foreign Currency Matters $0.1 0.3 $0.8 December 31, 2018, 2017 2016, Stock-Based Compensation The Company has stock-based compensation plans that provide for grants of equity to its management in the form of stock options, stock appreciation rights, stock awards, restricted stock units, performance awards, performance units, and any other form established by the Compensation Committee. Stock-based compensation is recognized over the period for which an employee is required to provide service in exchange for the award. Stock-based compensation expense is included in salaries, wages, and benefits in the consolidated statements of comprehensive income. Claims and Insurance Accruals Claims and insurance accruals consist of cargo loss, physical damage, group health, liability (personal injury and property damage) and workers’ compensation claims and associated legal and other expenses within the Company’s established retention levels. Claims in excess of retention levels are generally covered by insurance in amounts the Company considers adequate. Claims accruals represent the uninsured portion of the loss and if we are the primary obligor, the insured portion of pending claims at December 31, 2018 2017, not December 31, 2018 2017, third At December 31, 2018 2017, $0.4 $0.8 Investment in Affiliated Companies The Company consolidates operating companies in which it has a controlling financial interest. The usual condition for a controlling financial interest is ownership of a majority of the voting interest. Operating companies in which the Company is able to exercise significant influence but does not 10% December 2018, $0.9 Recently Issued Accounting Standards In January 2017, 2017 04, 350 2 2 December 15, 2019. not 2018 02 In February 2016, 2016 02, 842” 842, 2016 02 2016 02 not The adoption of this guidance on January 1, 2019 $175.0 $185.0 January 1, 2019 840. not 2019 Recently Adopted Accounting Standards In March 2018, 2018 05, 740 No. 118.” No. 118, 740, December 22, 2017 - not 4, Income Taxes. In August 2016, 2016 15, 230 eight may December 15, 2017. 2016 15 January 1, 2018. not The Company adopted ASU 2014 09, 606 January 1, 2018 606 606, 606, 606 606 December 31, 2017 $1.5 |
Note 3 - Business Acquisition
Note 3 - Business Acquisition | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. Business Acquisition On March 20, 2017, $10.6 $2.2 2017, $3.0 three $5.4 $5.9 $2.2 $2.5 $5.4 seven not not |
Note 4 - Income Taxes
Note 4 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 4. Income Taxes The components of earnings (loss) before income taxes are as follows (in thousands): 2018 2017 2016 Domestic $ 27,262 $ (27,722 ) $ (32,218 ) Mexico 6,704 6,598 7,796 Income (loss) before Income Taxes $ 33,966 $ (21,124 ) $ (24,422 ) The income tax provision (benefit) for 2018, 2017 2016 2018 2017 2016 Current Federal $ (1,358 ) $ (31 ) $ 847 State 911 605 314 Mexico 2,616 2,396 2,636 2,169 2,970 3,797 Deferred Federal 5,113 (21,190 ) (11,248 ) State 788 79 (1,139 ) Mexico (210 ) 954 142 5,691 (20,157 ) (12,245 ) Income tax provision (benefit) $ 7,860 $ (17,187 ) $ (8,448 ) A reconciliation of the income tax provision (benefit) as reported in the consolidated statements of comprehensive income to the amounts computed by applying federal statutory rate of 21% 2018 35% 2017 2016, 2018 2017 2016 Federal income tax at statutory rate $ 7,132 $ (7,437 ) $ (8,714 ) State income taxes, net of federal income tax benefit 1,319 (597 ) (727 ) Nondeductible per diem paid to drivers 1,182 2,476 2,556 Xpress Internacional activity 1,616 76 466 Tax credits (1,611 ) (970 ) (1,005 ) Provision to return adjustment 35 248 (1,659 ) Valuation allowance 2,433 950 (22 ) Foreign transition tax on deemed distribution (30 ) 2,315 - Global intangible low-taxed income (GILTI) 1,217 - - Tax Act impact of federal rate change - (14,723 ) - Basis difference on assets held for sale (2,524 ) - - Change in reserve for uncertain tax positions and settlements (3,278 ) 146 100 Affirmative issue - imputed interest expense 1,223 (1,223 ) - Non-taxable life insurance death benefit (1,004 ) - - Expiration of federal capital loss carryforward 1,826 - - Excess tax benefits on share-based compensation (651 ) - - Deferred Mexican withholding tax (876 ) 876 - Other, net (149 ) 676 557 Income tax provision (benefit) $ 7,860 $ (17,187 ) $ (8,448 ) At December 31, 2018, one $0.2 December 31, 2017 no Prior to the enactment of the Tax Act, the Company was indefinitely reinvested with respect to undistributed earnings of foreign subsidiaries. At December 31, 2017, $0.9 December 31, 2018, $0.9 no January 17, 2019, January 17, 2019, no The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities at December 31, 2018 2017, 2018 2017 Deferred tax assets Allowance for doubtful accounts $ 1,333 $ 1,099 Insurance and claims reserves 22,503 24,261 Compensation and employee benefits 2,973 2,355 Net operating loss and credit carryforwards 53,552 15,225 Net federal capital loss carryforward - 1,826 Capital lease obligations 4,782 6,512 Investment in subsidiaries 6,660 1,540 Other 551 3,487 Valuation allowance (5,826 ) (3,393 ) Total deferred tax assets $ 86,528 $ 52,912 Deferred tax liabilities Property and equipment $ 97,073 $ 56,570 Intangibles 8,007 8,392 Prepaid license fees 974 1,014 Other 452 2,566 Total deferred tax liabilities $ 106,506 $ 68,542 Net deferred tax liability $ 19,978 $ 15,630 The Company had approximately $0 $8.7 $177.7 $13.5 $122.3 $82.9 $0.6 $0.5 December 31, 2018 2017, 2018. 2018 $27.0 2036 2037 2018 $150.7 not may $9.1 2034 2038. $122.3 2020 may $0.6 2019 2028. The Company has a valuation allowance of $5.8 $3.4 December 31, 2018 2017, $2.4 $0.1 December 31, 2018 December 31, 2017, not Deferred tax valuation allowances Balance at beginning of Charges to costs Charges to other Balance at end period and expenses accounts Deductions of period Fiscal year ended December 31, 2016 $ 3,583 $ - $ (31 ) $ 22 $ 3,530 December 31, 2017 $ 3,530 $ 1,081 $ - $ 1,218 $ 3,393 December 31, 2018 $ 3,393 $ 5,654 $ - $ 3,221 $ 5,826 For the years ended December 31, 2018, 2017 2016, $0.8 $5.5 $5.2 2018 2017 2016 Beginning balance $ 5,506 $ 5,200 $ 5,200 Additions based on tax positions taken in prior years 829 306 - Reductions as a result of a lapse of the applicable statute of limitations (5,506 ) - - Balance at December 31 $ 829 $ 5,506 $ 5,200 Interest and penalties related to uncertain tax positions are classified as income tax expense in the consolidated statement of comprehensive income. This amounted to $0.1 $0.1 $0.1 2018, 2017 2016, Only tax years 2014 2009 2012 2018, As of December 31, 2018, may $0.8 12 $0 $0.7 |
Note 5 - Assets Held for Sale
Note 5 - Assets Held for Sale | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 5. Assets Held for Sale During December 2018, 95% January 17, 2019. $4.5 $6.0 $2.5 110 $2.5 January 17, 2019. not $11.6 Amounts classified as assets and liabilities held for sale at December 31, 2018 Total current assets of business held for sale $ 28,038 Property, plant and equipment 10,635 Other assets 994 Total disposal group assets held for sale $ 39,667 Total current liabilities associated with assets held for sale $ 6,856 Long-term liabilities associated with assets held for sale 8,353 Total liabilities associated with assets of business held for sale $ 15,209 Held for sale impairment charge 11,629 Fair value of disposal group held for sale $ 12,829 The amount of the impairment is equal to carrying value of the long-term assets. |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and Equipment The cost and lives at December 31, 2018 2017, Approximate Cost Lives (in years) 2018 2017 Land and land improvements $ 22,130 $ 20,880 Buildings and building improvements 10 − 40 85,317 79,820 Revenue and service equipment 3 − 15 648,648 597,644 Furniture and equipment 3 − 7 47,482 46,524 Leasehold improvements lesser of useful life or lease terms 23,027 25,387 Computer software 1 − 7 71,926 65,559 $ 898,530 $ 835,814 The Company recognized $85.9 $86.0 $56.6 2018, 2017 2016, $7.1 $2.0 $5.8 2018, 2017 2016, 24 100 December 31, 2018 2017, $39.5 $46.1 $18.1 $19.8 $3.1 $3.8 $7.8 2018, 2017 2016, $60.2 $57.8 December 31, 2018 2017, |
Note 7 - Goodwill
Note 7 - Goodwill | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 7. Goodwill Our Truckload reporting unit is the only reporting unit that has goodwill. The carrying amounts of Truckload goodwill are as follows at December 31, 2018 2017, Total Balance at December 31, 2016 $ 55,508 Acquisition Activity 2,200 Balance at December 31, 2017 57,708 Balance at December 31, 2018 $ 57,708 Goodwill increased in 2017 |
Note 8 - Intangible Assets
Note 8 - Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 8. Intangible Assets The gross amount of the customer relationships was $21.7 December 31, 2018 2017, 2017, $2.5 $1.8 $1.6 $1.3 2018, 2017 2016 $16.1 $14.3 December 31, 2018 2017, 4.0 4.8 December 31, 2018 2017, The gross carrying value of the indefinite lived trade names was $23.3 December 31, 2018 2017, Scheduled amortization expense related to customer relationships for future years is as follows (in thousands): Customer Relationship 2019 1,694 2020 1,679 2021 1,393 2022 345 2023 345 Thereafter 115 $ 5,571 |
Note 9 - Equity Investments
Note 9 - Equity Investments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 9. Equity Investments In November 2012, 38% third $0.5 62% September 2013, 30% $1.0 2016, $0.4 70% 42% $5.0 December 31, 2018 2017, $4.9 2011 2012, 27.73% 16.16%. 56.11% Per review of the terms of Logisti-K, Dylka and DriverTech’s operating agreements, the Company has determined that these investments are variable interest entities. The daily operations of the businesses are the activities of Logisti-K, Dylka and DriverTech that most significantly impact their economic performance and these activities are directed by other investors. Accordingly, the power to direct the activities of Logisti-K, Dylka and DriverTech is provided by other investors and, thus, USX is not $0 $0 December 31, 2018, $0 $0.6 December 31, 2017. $0 December 31, 2018 2017, In conjunction with the sale of Arnold Transportation, Inc. (Arnold) to Parker Global Enterprises, Inc. (Parker), the Company received common stock representing 45% $10.4 January 2, 2013. $0 December 31, 2018 2017. In April 2015, 10% $0.2 $5.0 $5.2 April 13, 2015. $0 $1.3 December 31, 2018 2017, December 2018, 10% $0.9 Summarized financial information for the Company’s equity investments aggregated as of December 31, 2018, 2017 2016 (in thousands) As of December 31, 2018 2017 Current assets 23,325 37,131 Non-current assets 29,297 43,718 Total Assets 52,622 80,849 Current liabilities 54,733 66,726 Non-current liabilities 83,085 89,723 Total Liabilities 137,818 156,449 Net Liabilities $ (85,196 ) $ (75,600 ) For the Years Ended December 31, 2018 2017 2016 Total operating revenue $ 158,414 $ 243,311 $ 233,905 Operating expenses 151,523 247,384 240,157 Operating income (loss) 6,891 (4,073 ) (6,252 ) Net loss $ (3,679 ) $ (12,023 ) $ (16,917 ) |
Note 10 - Long-term Debt
Note 10 - Long-term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. Long-Term Debt Long-term debt at December 31, 2018 2017 2018 2017 Term loan agreement, maturing May 2020, terminated June 2018, effective interest rate of 12.2% $ - $ 193,177 Line of credit, maturing March 2020, terminated June 2018 - 29,333 Term loan agreement, interest rate of 4.8% at December 31, 2018, maturing June 2023 195,000 - Revenue equipment installment notes with finance companies, weighted average interest rate of 5.0% and 4.7% at December 31, 2018 and 2017, due in monthly installments with final maturities at various dates through December 2025, secured by related revenue equipment with a net book value of $197.1 million and $315.7 million in December 2018 and 2017 184,867 310,850 Note payable to limited liability company owned in part by certain officers of the Company, interest rate of 13.0% at December 31, 2017, maturing November 2020, terminated June 2018 - 25,516 Mortgage note payables, interest rates ranging from 5.25% to 6.99% at December 31, 2018 2017 due in monthly installments with final maturities as various dates through September 2031, secured by real estate with a net book value of $24.1 million and $24.7 million at December 2018 and 2017 18,861 20,033 Capital lease obligations, maturing at various dates through April 2024 20,313 27,761 Other 6,872 6,134 425,913 612,804 Less: Unamortized discount and debt issuance costs (1,347 ) (7,266 ) Less: Current maturities of long-term debt (113,094 ) (132,332 ) $ 311,472 $ 473,206 New Credit Facility In June 2018, $150.0 $200.0 no $75.0 1.25% September 30, 2018 0.75% 1.50% 2.25% September 30, 2018 1.75% 2.50% 0.25% 0.35% $150.0 $75.0 $15.0 1.25% 2.50% first September 30, 2018. June 18, 2023. Borrowings under the Credit Facility are prepayable at any time without premium and are subject to mandatory prepayment from the net proceeds of certain asset sales and other borrowings. The Credit Facility is secured by a pledge of substantially all of our assets, excluding, among other things, certain real estate and revenue equipment financed outside the Credit Facility. The Credit Facility contains restrictive covenants including, among other things, restrictions on our ability to incur additional indebtedness or issue guarantees, to create liens on our assets, to make distributions on or redeem equity interests, to make investments, to transfer or sell properties or other assets and to engage in mergers, consolidations, or acquisitions. In addition, the Credit Facility requires us to meet specified financial ratios and tests, including a maximum leverage ratio and a minimum interest coverage ratio. At December 31, 2018, $31.7 $0 $118.3 $195.0 The Credit Facility includes usual and customary events of default for a facility of this nature and provides that, upon the occurrence and continuation of an event of default, payment of all amounts payable under the Credit Facility may may December 31, 2018, Old Term Loan Agreement At December 31, 2017, $193.2 $0.7 10.0% 11.5%, December 31, 2017 12.2%, During 2016, $3.7 $2.7 $1.0 2017, $5.5 $4.1 $1.4 third Original issue discount was recorded as an offset to long-term debt and was amortized over the term of the respective obligation using the effective interest method. Unamortized original issue discount was $0.8 December 31, 2017. $0.1 $0.4 $0.6 2018, 2017 2016, In June 2018, $0.6 $5.3 $1.4 third $0.1 Old Line of Credit At December 31, 2017, $29.3 $155 first second 0.75% 1.50% 1.75% 2.50%. December 31, 2017, 2.0%. During 2017, $0.3 In June 2018, $0.2 $0.1 Debt Maturities As of December 31, 2018, 2019 $ 106,383 2020 27,960 2021 26,938 2022 47,021 2023 178,888 Thereafter 18,410 $ 405,600 |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | 11. Leases The Company leases certain revenue and service equipment and office and terminal facilities under long-term noncancelable operating lease agreements expiring at various dates through October 2027. $78.5 $75.7 $111.0 2018, 2017 2016, three five five eight April 2024. $28.2 December 31, 2018. Approximate aggregate minimum undiscounted future rentals payable under these capital and operating leases for each of the next five $9.3 Capital Operating 2019 $ 7,797 $ 60,303 2020 7,564 42,632 2021 4,086 35,302 2022 1,427 20,751 2023 1,427 15,884 Thereafter 297 14,080 22,598 $ 188,952 Less: Amount representing interest (2,285 ) 20,313 Less: Current portion (6,711 ) $ 13,602 |
Note 12 - Related-party Transac
Note 12 - Related-party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12. Related-Party Transactions The Company had a $25.5 December 31, 2017. $26.6 $8.6 June 2018. The Company leased a terminal facility from entities owned by the two 2020. $0.5 $0.9 $1.0 2018, 2017 2016, June 2018, $7.5 The Company and two 44.1% $1.5 $1.5 $1.9 2018, 2017 2016, In connection with the sale of Arnold to Parker, the Company entered into a number of agreements with Parker. Under the Transition Services Agreement, the Company agreed to perform certain services for Parker, such as accounting, payroll, human resources, information technology and others. Parker paid the Company approximately $0.2 $0.2 $0.3 2018, 2017 2016, The Company entered into a ten $0.4 $0.4 $0.4 2018, 2017 2016, In September 2014, one $5.0 At December 31, 2018 2017, $3.1 $3.3 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. Commitments and Contingencies The Company is party to certain legal proceedings incidental to its business. The ultimate disposition of these matters, in the opinion of management, based in part on the advice of legal counsel, is not For the cases described below, management is unable to provide a meaningful estimate of the possible loss or range of loss because, among other reasons, ( 1 2 not 3 4 5 not California Wage and Hour Class Action Litigation On December 23, 2015, December 23, 2011 not not not not not not no not Telephone Consumer Protection Act Claim A class action was filed against our subsidiary U.S. Xpress, Inc. in the U.S. District Court for the Western District of Virginia on December 11, 2017 March 7, 2018, two December 11, 2013 January 13, 2020. not Shareholder Claims As set forth below, between November 2018 February 2019, five not not On November 21, 2018, five seven 11 15 1933 On January 23, 2019, 11 15 November 21, 2018. On January 30, 2019, 11 15 November 21, 2018, 12 On February 5, 2019, 11 15 November 21, 2018, 12 On February 6, 2019, 11 15 Securities Act against the same defendants as in the action commenced on November 21, 2018. The complaints in all the actions listed above allege that the Company made false and misleading statements in the registration statement and prospectus filed with the SEC in connection with the IPO, and that, as a result of such alleged statements, the plaintiffs suffered damages. We believe the allegations made in the complaints are without merit and intend to defend ourselves vigorously against the complaints relating to such actions. The Company has letters of credit of $31.7 December 31, 2018. The Company had cancelable commitments outstanding at December 31, 2018 $162.9 2019. |
Note 14- Share-based Compensati
Note 14- Share-based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 14. Share-based Compensation 2018 In June 2018, 2018 3.2 may The following is a summary of the Incentive Plan restricted stock and restricted stock unit activity from June 13, 2018 December 31, 2018: Weighted Number of Average Grant Units Date Fair Value Unvested at June 13, 2018 - - Granted 287,232 $ 14.30 Forfeited ' 16,490 16.00 Unvested at December 31, 2018 270,742 $ 14.20 The restricted stock grants vest over periods of one four $1.0 2018. December 31, 2018, $2.8 3.3 The following is a summary of the Incentive Plan stock option activity from June 13, 2018 December 31, 2018: Weighted Number of Average Grant Units Date Fair Value Unvested at June 13, 2018 - - Granted 192,203 $ 6.09 Forfeited 14,943 $ 6.09 Unvested at December 31, 2018 177,260 $ 6.09 The stock options vest over a period of four ten $0.3 2018. Strike price $ 16.00 Risk-free interest rate 2.91 % Expected dividend yield 0 % Expected volatility 32.67 % Expected term (in years) 6.25 At December 31, 2018, $0.8 3.5 Stock Appreciation Rights In June 2015, 2015 5 710 718 In conjunction with the offering, the Company vested all remaining stock appreciation rights (“SARS”) and settled the resulting liabilities related thereto. As a result, the Company recorded additional compensation expense in the amount of $3.2 second 2018. The following is a summary of the Company’s SARS activity for 2018, 2017 2016: Number of Grant Date Units Exercise Price Outstanding at December 31, 2015 76,125 $ 9.95 Granted - - Exercised 1,450 9.95 Canceled or expired 2,175 9.95 Outstanding at December 31, 2016 72,500 9.95 Granted - - Exercised 2,175 9.95 Canceled or expired 5,075 9.95 Outstanding at December 31, 2017 65,250 9.95 Granted - - Exercised 63,250 9.95 Canceled or expired 2,000 9.95 Outstanding at December 31, 2018 - - The Company recognized compensation expense of $3.4 $0.3 $0.2 2018, 2017 2016, Restricted Stock Units In August 2008, 2008 Redeemable restricted units were subject to certain put rights at the option of the holder or upon the occurrence of an event that was not nine 2017 480. As part of the Reorganization (see Note 1 2018, 2017 2016: Number of Weighted Units Average Unvested at December 31, 2015 277,992 $ 6.73 Granted 20,000 9.96 Vested 55,492 8.97 Forfeited 5,000 9.30 Unvested at December 31, 2016 237,500 6.79 Granted 292,500 10.37 Vested 69,333 6.62 Forfeited 14,667 7.69 Unvested at December 31, 2017 446,000 $ 9.14 Granted - - Vested-pre IPO 105,307 7.74 Forfeited-pre IPO 6,667 7.52 Unvested at June 13, 2018 334,026 9.62 Conversion in connection with IPO 4.6666667 Unvested post-IPO 1,558,787 2.06 Vested-post IPO 144,667 2.67 Forfeited post IPO 12,446 1.99 Unvested at December 31, 2018 1,401,674 $ 2.00 The vesting schedule for these restricted unit grants range from 3 7 $0.9 $0.7 $0.5 2018, 2017 2016, December 31, 2018, $2.2 4.1 |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block] | 15. Employee Benefit Plan The Company has a 401 may 100% $1.7 2018, 2017 2016. The Company has a nonqualified deferred compensation plan that allows eligible employees to defer a portion of their compensation. Participants can defer up to 85% 100% $3.0 $3.1 December 31, 2018 2017, $2.9 $2.1 December 31, 2018 2017, 2018, $4.0 one |
Note 16 - Fair Value Measuremen
Note 16 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 16. Fair Value Measurements Accounting standards, among other things, define fair value, establish a framework for measuring fair value and expand disclosure about such fair value measurements. Assets and liabilities measured at fair value are based on one three The standards clarify that fair value is an exit price, representing the amount that would be received to sell an asset, based on the highest and best use of the asset, or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for evaluating such assumptions, the standards establish a three Level 1 Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Unobservable inputs, only used to the extent that observable inputs are not The following table summarizes liabilities measured at fair value at December 31, 2018 2017 2018 Fair Value Input Level Liabilities Forward Contract $ 1,793 3 2017 Fair Value Input Level Liabilities Forward Contract $ 1,985 3 The following table summarizes the changes in the fair value of assets and liabilities measured at fair value using significant unobservable inputs (Level 3 December 31, 2018, 2017 2016 2018 2017 2016 Balance at beginning of year $ 1,985 $ 2,683 $ 4,000 Cash Settlement - - 2,200 Forward Contract Adjustment (192 ) (698 ) 883 Balance at end of year $ 1,793 $ 1,985 $ 2,683 During 2016, 5% $2.2 5% no 2020, January 2019, December 31, 2018. 3 The carrying values of cash and cash equivalents, customer and other receivables and accounts payable are reasonable estimates of their fair values because of the short maturity of these financial instruments. Interest rates that are currently available to us for issuance of long-term debt with similar terms and remaining maturities are used to estimate the fair value of our long-term debt, which primarily consists of revenue equipment installment notes. The fair value of our revenue equipment installment notes approximated the carrying value at December 31, 2018, |
Note 17 - Income (Loss) Per Sha
Note 17 - Income (Loss) Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17. Income (Loss) per Share Basic earnings (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted average shares of common stock outstanding during the period, without consideration for common stock equivalents. Prior to the offering, there were no 448,002 December 31, 2018 The basic and diluted earnings (loss) per share calculations for the years ended December 31, 2018, 2017 2016 2018 2017 2016 Net income (loss) $ 26,106 $ (3,937 ) $ (15,974 ) Net income attributable to noncontrolling interest 1,207 123 550 Net income (loss) attributable to common stockholders $ 24,899 $ (4,060 ) $ (16,524 ) Basic weighted average of outstanding shares of common stock 29,470 6,385 6,385 Dilutive effect of equity awards 663 - - Diluted weighted average of outstanding shares of common stock 30,133 6,385 6,385 Basic earnings (loss) per share $ 0.84 $ (0.64 ) $ (2.59 ) Diluted earnings (loss) per share $ 0.83 $ (0.64 ) $ (2.59 ) |
Note 18 - Segment Information
Note 18 - Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 18. Segment Information The Company’s business is organized into two The Truckload segment offers asset-based truckload services, including OTR trucking and dedicated contract services. These services are aggregated because they have similar economic characteristics and meet the aggregation criteria described in the accounting guidance for segment reporting. The Company’s OTR service offering provides solo and expedited team services through one December 31, 2018, 87% The Company’s Brokerage segment is principally engaged in non-asset-based freight brokerage services, where it outsources the transportation of loads to third third December 31, 2018, 13% The following table summarizes our segment information (in thousands): Year Ended December 31, 2018 2017 2016 Revenues Truckload $ 1,562,098 $ 1,382,167 $ 1,301,574 Brokerage 242,817 173,218 149,631 Total Operating Revenue $ 1,804,915 $ 1,555,385 $ 1,451,205 Operating Income Truckload $ 69,088 $ 25,200 $ 25,962 Brokerage 9,818 3,408 1,769 Total Operating Income $ 78,906 $ 28,608 $ 27,731 A measure of assets is not not Information about the geographic areas in which the Company conducts business is summarized below (in thousands) as of and for the years ended December 31, 2018, 2017 2016. December 31, 2018, $0. Year Ended December 31, 2018 2017 2016 Revenues United States $ 1,751,556 $ 1,504,926 $ 1,402,023 Foreign countries Mexico 53,359 50,459 49,182 Total $ 1,804,915 $ 1,555,385 $ 1,451,205 Long-lived Assets United States $ 518,717 $ 459,021 $ 303,520 Foreign countries Mexico - 4,884 6,220 Total $ 518,717 $ 463,905 $ 309,740 |
Note 19 - Quarterly Financial D
Note 19 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 19. Quarterly Financial Data (Unaudited) 2018: First Quarter Second Quarter Third Quarter Fourth Quarter Operating revenues $ 425,708 $ 449,758 $ 460,227 $ 469,222 Operating income (1) 14,854 20,018 22,892 21,142 Net income (1) (2) 1,159 615 16,129 6,996 Basic earnings per share 0.18 0.04 0.33 0.14 Diluted earnings per share 0.18 0.04 0.33 0.14 2017: First Quarter Second Quarter Third Quarter Fourth Quarter Operating revenues $ 363,676 $ 370,350 $ 390,126 $ 431,233 Operating income 1,928 2,689 11,534 12,457 Net income (loss) (3) (4,432 ) (8,452 ) (675 ) 9,499 Basic earnings (loss) per share (0.69 ) (1.32 ) (0.11 ) 1.49 Diluted earnings (loss) per share (0.69 ) (1.32 ) (0.11 ) 1.49 ( 1 Fourth quarter 2018 $10.7 ( 2 Fourth quarter 2018 $1.8 ( 3 Fourth quarter 2017 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned and majority-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and such differences could be material. Significant estimates include useful lives of property and equipment and related salvage value, claims reserves for liability and workers’ compensation claims and valuation allowance for deferred tax assets. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investment instruments with an original maturity of three |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Customer Receivables and Allowances Customer receivables are recorded at the invoiced amount, net of allowances for uncollectible accounts and revenue adjustments. The allowances for uncollectible accounts and revenue adjustments are based on historical experience as well as any known trends or uncertainties related to customer billing and account collectability. The Company reviews the adequacy of its allowance for doubtful accounts on a quarterly basis. Past due balances over contractual payment terms and exceeding specified amounts are reviewed individually for collectability. Receivable balances are written off when collection is deemed unlikely. |
Inventory Supplies, Policy [Policy Text Block] | Operating Supplies Operating supplies consist primarily of parts, materials and supplies for servicing the Company’s revenue and service equipment. Operating supplies are recorded at the lower of cost (on a first first |
Assets or Disposal Group, Held-for-sale [Policy Text Block] | Assets Held for Sale Assets held for sale are comprised of revenue equipment no no twelve December 31, 2018, $5.2 $28.0 December 31, 2017, 5, Assets Held for Sale January 2019. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are carried at cost. Depreciation of property and equipment is computed using the straight-line method for financial reporting purposes and accelerated methods for tax purposes over the estimated useful lives of the related assets (net of salvage values ranging from 25.0% 50.0% |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long Lived Assets The Company reviews its long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill In 2013, 2011 08, Testing Goodwill for Impairment, first two not not The quantitative impairment test consists of two first not second second second The Company performs an annual goodwill impairment analysis at the reporting unit level as of October 1 fourth 2018, fourth 2017 not |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Customer relationships are valued as part of acquisition-related transactions using the income appraisal methodology. The income appraisal methodology includes a determination of the present value of future monetary benefits to be derived from the anticipated income, or ownership, of the subject asset. The value of customer relationships includes the value expected to be realized from existing contracts as well as from expected renewals of such contracts and is calculated using unweighted and weighted total undiscounted cash flows as part of the income appraisal methodology. Customer relationships are amortized over seven fifteen may not no 2018 2017. Trade names are valued based on various factors including the projected revenue stream associated with the intangible asset. The Company’s trade names have an indefinite life and are not fourth 2018 2017, not not |
Book Overdraft [Policy Text Block] | Book Overdraft Book overdraft represents outstanding checks in excess of current cash levels. The Company funds its book overdraft from its line of credit and operating cash flows. |
Debt, Policy [Policy Text Block] | Deferred Financing Costs The Company presents debt issuance costs as a direct deduction from the related debt, consistent with debt discounts. Debt issuance costs associated with revolving line-of-credit arrangements are presented as an asset. All such debt issuance costs are amortized ratably over the term of the arrangement. Term loan debt issuance costs excluding original issue discount, net of accumulated amortization were $1.3 $6.5 December 31, 2018 2017, $1.5 $3.2 December 31, 2018 2017, $0.2 $2.5 December 31, 2018 2017, $1.6 $3.4 $4.9 2018, 2017 2016, |
Revenue from Contract with Customer [Policy Text Block] | Recognition of Revenue The Company generates revenues primarily from shipments executed by the Company’s Truckload and Brokerage operations. Those shipments are the Company’s performance obligations, arising under contracts we have entered into with customers. Under such contracts, revenue is recognized when obligations are satisfied, which occurs over time with the transit of shipments from origin to destination. This is appropriate as the customer simultaneously receives and consumes the benefits as the Company performs its obligation. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing services. The most significant judgment used in recognition of revenue is the determination of miles driven as the basis for determining the amount of revenue to be recognized for partially fulfilled obligations. Accessorial charges for fuel surcharge, loading and unloading, stop charges, and other immaterial charges are part of the consideration we receive for the single performance obligation of delivering shipments. Contracts entered into with our customers do not The majority of revenue contracts with our customers have a duration of one not one $3.3 $1.5 December 31, 2018 Through the Company’s Brokerage operations, the Company outsources the transportation of the loads to third third The timing of revenue recognition, billings, cash collections, and allowance for doubtful accounts results in billed and unbilled receivables on our consolidated balance sheet. The Company receives the unconditional right to bill when shipments are delivered to their destination. We generally receive payment within 40 $2.9 December 31, 2018 $2.4 December 31, 2018. The following table presents the effect of the adoption of Accounting Standard Codification 606 606 December 31, 2018 ( (in thousands, except for per share amounts) As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Consolidated Statement of Comprehensive Income (Loss) Operating revenues $ 1,804,915 $ (945 ) $ 1,805,860 Total operating expenses 1,726,009 (1,847 ) 1,727,856 Operating income 78,906 902 78,004 Income before income tax provision 33,966 902 33,064 Income tax provision 7,860 262 7,598 Net income 26,106 640 25,466 Net income attributable to controlling interest 24,899 640 24,259 Basic earnings per share 0.84 0.02 0.82 Basic weighted average shares outstanding 29,470 29,470 29,470 Diluted earnings per share 0.83 0.02 0.81 Diluted weighted average shares outstanding 30,133 30,133 30,133 Reported Adjustments Under ASC 605 Balance at Due to Balance at December 31, 2018 ASC 606 December 31, 2018 Consolidated Balance Sheet Customer receivables $ 190,254 $ 2,906 $ 187,348 Other current assets 13,374 1,812 11,562 Total current assets 285,534 4,718 280,816 Total assets 910,487 4,718 905,769 Accounts payable 63,808 1,892 61,916 Other accrued liabilities 8,120 349 7,771 Deferred income taxes 19,978 378 19,600 Accumulated deficit (17,335 ) 2,099 (19,434 ) Stockholders' equity (deficit) 234,891 2,099 232,792 Total stockholder's equity (deficit) 238,387 2,099 236,288 Total liabilities, redeemable restricted units and stockholder's equity (deficit) 910,487 4,718 905,769 As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Operating Cash Flows Net income $ 26,106 $ 640 $ 25,466 Receivables (8,972 ) 945 (9,917 ) Other assets (3,438 ) (1,348 ) (2,090 ) Accounts payable and other accrued liabilities (21,020 ) (499 ) (20,521 ) Deferred income tax provision 5,691 262 5,429 |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the need for a valuation allowance on deferred tax assets based on whether it believes that it is more likely than not not The Company’s estimate of the potential outcome of any uncertain tax issue is subject to its assessment of relevant risks, facts and circumstances existing at that time. The Company accounts for uncertain tax positions in accordance with ASC 740, Income Taxes not The Act subjects a US shareholder to tax on Global Intangible Low-Taxed Income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Concentrations of credit risk with respect to customer receivables are limited due to the large number of entities comprising the Company’s customer base and their dispersion across many different industries. Revenues from the Company’s largest customer accounted for 11.8% 2018. not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Foreign currency activity is reported in accordance with ASC 830, Foreign Currency Matters $0.1 0.3 $0.8 December 31, 2018, 2017 2016, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company has stock-based compensation plans that provide for grants of equity to its management in the form of stock options, stock appreciation rights, stock awards, restricted stock units, performance awards, performance units, and any other form established by the Compensation Committee. Stock-based compensation is recognized over the period for which an employee is required to provide service in exchange for the award. Stock-based compensation expense is included in salaries, wages, and benefits in the consolidated statements of comprehensive income. |
Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block] | Claims and Insurance Accruals Claims and insurance accruals consist of cargo loss, physical damage, group health, liability (personal injury and property damage) and workers’ compensation claims and associated legal and other expenses within the Company’s established retention levels. Claims in excess of retention levels are generally covered by insurance in amounts the Company considers adequate. Claims accruals represent the uninsured portion of the loss and if we are the primary obligor, the insured portion of pending claims at December 31, 2018 2017, not December 31, 2018 2017, third At December 31, 2018 2017, $0.4 $0.8 |
Equity Method Investments [Policy Text Block] | Investment in Affiliated Companies The Company consolidates operating companies in which it has a controlling financial interest. The usual condition for a controlling financial interest is ownership of a majority of the voting interest. Operating companies in which the Company is able to exercise significant influence but does not 10% December 2018, $0.9 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In January 2017, 2017 04, 350 2 2 December 15, 2019. not 2018 02 In February 2016, 2016 02, 842” 842, 2016 02 2016 02 not The adoption of this guidance on January 1, 2019 $175.0 $185.0 January 1, 2019 840. not 2019 Recently Adopted Accounting Standards In March 2018, 2018 05, 740 No. 118.” No. 118, 740, December 22, 2017 - not 4, Income Taxes. In August 2016, 2016 15, 230 eight may December 15, 2017. 2016 15 January 1, 2018. not The Company adopted ASU 2014 09, 606 January 1, 2018 606 606, 606, 606 606 December 31, 2017 $1.5 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | (in thousands, except for per share amounts) As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Consolidated Statement of Comprehensive Income (Loss) Operating revenues $ 1,804,915 $ (945 ) $ 1,805,860 Total operating expenses 1,726,009 (1,847 ) 1,727,856 Operating income 78,906 902 78,004 Income before income tax provision 33,966 902 33,064 Income tax provision 7,860 262 7,598 Net income 26,106 640 25,466 Net income attributable to controlling interest 24,899 640 24,259 Basic earnings per share 0.84 0.02 0.82 Basic weighted average shares outstanding 29,470 29,470 29,470 Diluted earnings per share 0.83 0.02 0.81 Diluted weighted average shares outstanding 30,133 30,133 30,133 Reported Adjustments Under ASC 605 Balance at Due to Balance at December 31, 2018 ASC 606 December 31, 2018 Consolidated Balance Sheet Customer receivables $ 190,254 $ 2,906 $ 187,348 Other current assets 13,374 1,812 11,562 Total current assets 285,534 4,718 280,816 Total assets 910,487 4,718 905,769 Accounts payable 63,808 1,892 61,916 Other accrued liabilities 8,120 349 7,771 Deferred income taxes 19,978 378 19,600 Accumulated deficit (17,335 ) 2,099 (19,434 ) Stockholders' equity (deficit) 234,891 2,099 232,792 Total stockholder's equity (deficit) 238,387 2,099 236,288 Total liabilities, redeemable restricted units and stockholder's equity (deficit) 910,487 4,718 905,769 As Reported for the Adjustments Under ASC 605 Year Ended Due to For the Year Ended December 31, 2018 ASC 606 December 31, 2018 Operating Cash Flows Net income $ 26,106 $ 640 $ 25,466 Receivables (8,972 ) 945 (9,917 ) Other assets (3,438 ) (1,348 ) (2,090 ) Accounts payable and other accrued liabilities (21,020 ) (499 ) (20,521 ) Deferred income tax provision 5,691 262 5,429 |
Note 4 - Income Taxes (Tables)
Note 4 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2018 2017 2016 Domestic $ 27,262 $ (27,722 ) $ (32,218 ) Mexico 6,704 6,598 7,796 Income (loss) before Income Taxes $ 33,966 $ (21,124 ) $ (24,422 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2018 2017 2016 Current Federal $ (1,358 ) $ (31 ) $ 847 State 911 605 314 Mexico 2,616 2,396 2,636 2,169 2,970 3,797 Deferred Federal 5,113 (21,190 ) (11,248 ) State 788 79 (1,139 ) Mexico (210 ) 954 142 5,691 (20,157 ) (12,245 ) Income tax provision (benefit) $ 7,860 $ (17,187 ) $ (8,448 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 2016 Federal income tax at statutory rate $ 7,132 $ (7,437 ) $ (8,714 ) State income taxes, net of federal income tax benefit 1,319 (597 ) (727 ) Nondeductible per diem paid to drivers 1,182 2,476 2,556 Xpress Internacional activity 1,616 76 466 Tax credits (1,611 ) (970 ) (1,005 ) Provision to return adjustment 35 248 (1,659 ) Valuation allowance 2,433 950 (22 ) Foreign transition tax on deemed distribution (30 ) 2,315 - Global intangible low-taxed income (GILTI) 1,217 - - Tax Act impact of federal rate change - (14,723 ) - Basis difference on assets held for sale (2,524 ) - - Change in reserve for uncertain tax positions and settlements (3,278 ) 146 100 Affirmative issue - imputed interest expense 1,223 (1,223 ) - Non-taxable life insurance death benefit (1,004 ) - - Expiration of federal capital loss carryforward 1,826 - - Excess tax benefits on share-based compensation (651 ) - - Deferred Mexican withholding tax (876 ) 876 - Other, net (149 ) 676 557 Income tax provision (benefit) $ 7,860 $ (17,187 ) $ (8,448 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2018 2017 Deferred tax assets Allowance for doubtful accounts $ 1,333 $ 1,099 Insurance and claims reserves 22,503 24,261 Compensation and employee benefits 2,973 2,355 Net operating loss and credit carryforwards 53,552 15,225 Net federal capital loss carryforward - 1,826 Capital lease obligations 4,782 6,512 Investment in subsidiaries 6,660 1,540 Other 551 3,487 Valuation allowance (5,826 ) (3,393 ) Total deferred tax assets $ 86,528 $ 52,912 Deferred tax liabilities Property and equipment $ 97,073 $ 56,570 Intangibles 8,007 8,392 Prepaid license fees 974 1,014 Other 452 2,566 Total deferred tax liabilities $ 106,506 $ 68,542 Net deferred tax liability $ 19,978 $ 15,630 |
Summary of Valuation Allowance [Table Text Block] | Deferred tax valuation allowances Balance at beginning of Charges to costs Charges to other Balance at end period and expenses accounts Deductions of period Fiscal year ended December 31, 2016 $ 3,583 $ - $ (31 ) $ 22 $ 3,530 December 31, 2017 $ 3,530 $ 1,081 $ - $ 1,218 $ 3,393 December 31, 2018 $ 3,393 $ 5,654 $ - $ 3,221 $ 5,826 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2018 2017 2016 Beginning balance $ 5,506 $ 5,200 $ 5,200 Additions based on tax positions taken in prior years 829 306 - Reductions as a result of a lapse of the applicable statute of limitations (5,506 ) - - Balance at December 31 $ 829 $ 5,506 $ 5,200 |
Note 5 - Assets Held for Sale (
Note 5 - Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Total current assets of business held for sale $ 28,038 Property, plant and equipment 10,635 Other assets 994 Total disposal group assets held for sale $ 39,667 Total current liabilities associated with assets held for sale $ 6,856 Long-term liabilities associated with assets held for sale 8,353 Total liabilities associated with assets of business held for sale $ 15,209 Held for sale impairment charge 11,629 Fair value of disposal group held for sale $ 12,829 The amount of the impairment is equal to carrying value of the long-term assets. |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Approximate Cost Lives (in years) 2018 2017 Land and land improvements $ 22,130 $ 20,880 Buildings and building improvements 10 − 40 85,317 79,820 Revenue and service equipment 3 − 15 648,648 597,644 Furniture and equipment 3 − 7 47,482 46,524 Leasehold improvements lesser of useful life or lease terms 23,027 25,387 Computer software 1 − 7 71,926 65,559 $ 898,530 $ 835,814 |
Note 7 - Goodwill (Tables)
Note 7 - Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Total Balance at December 31, 2016 $ 55,508 Acquisition Activity 2,200 Balance at December 31, 2017 57,708 Balance at December 31, 2018 $ 57,708 |
Note 8 - Intangible Assets (Tab
Note 8 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Customer Relationship 2019 1,694 2020 1,679 2021 1,393 2022 345 2023 345 Thereafter 115 $ 5,571 |
Note 9 - Equity Investments (Ta
Note 9 - Equity Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | (in thousands) As of December 31, 2018 2017 Current assets 23,325 37,131 Non-current assets 29,297 43,718 Total Assets 52,622 80,849 Current liabilities 54,733 66,726 Non-current liabilities 83,085 89,723 Total Liabilities 137,818 156,449 Net Liabilities $ (85,196 ) $ (75,600 ) For the Years Ended December 31, 2018 2017 2016 Total operating revenue $ 158,414 $ 243,311 $ 233,905 Operating expenses 151,523 247,384 240,157 Operating income (loss) 6,891 (4,073 ) (6,252 ) Net loss $ (3,679 ) $ (12,023 ) $ (16,917 ) |
Note 10 - Long-term Debt (Table
Note 10 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 2018 2017 Term loan agreement, maturing May 2020, terminated June 2018, effective interest rate of 12.2% $ - $ 193,177 Line of credit, maturing March 2020, terminated June 2018 - 29,333 Term loan agreement, interest rate of 4.8% at December 31, 2018, maturing June 2023 195,000 - Revenue equipment installment notes with finance companies, weighted average interest rate of 5.0% and 4.7% at December 31, 2018 and 2017, due in monthly installments with final maturities at various dates through December 2025, secured by related revenue equipment with a net book value of $197.1 million and $315.7 million in December 2018 and 2017 184,867 310,850 Note payable to limited liability company owned in part by certain officers of the Company, interest rate of 13.0% at December 31, 2017, maturing November 2020, terminated June 2018 - 25,516 Mortgage note payables, interest rates ranging from 5.25% to 6.99% at December 31, 2018 2017 due in monthly installments with final maturities as various dates through September 2031, secured by real estate with a net book value of $24.1 million and $24.7 million at December 2018 and 2017 18,861 20,033 Capital lease obligations, maturing at various dates through April 2024 20,313 27,761 Other 6,872 6,134 425,913 612,804 Less: Unamortized discount and debt issuance costs (1,347 ) (7,266 ) Less: Current maturities of long-term debt (113,094 ) (132,332 ) $ 311,472 $ 473,206 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2019 $ 106,383 2020 27,960 2021 26,938 2022 47,021 2023 178,888 Thereafter 18,410 $ 405,600 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | Capital Operating 2019 $ 7,797 $ 60,303 2020 7,564 42,632 2021 4,086 35,302 2022 1,427 20,751 2023 1,427 15,884 Thereafter 297 14,080 22,598 $ 188,952 Less: Amount representing interest (2,285 ) 20,313 Less: Current portion (6,711 ) $ 13,602 |
Note 14- Share-based Compensa_2
Note 14- Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Weighted Number of Average Grant Units Date Fair Value Unvested at June 13, 2018 - - Granted 287,232 $ 14.30 Forfeited ' 16,490 16.00 Unvested at December 31, 2018 270,742 $ 14.20 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Number of Average Grant Units Date Fair Value Unvested at June 13, 2018 - - Granted 192,203 $ 6.09 Forfeited 14,943 $ 6.09 Unvested at December 31, 2018 177,260 $ 6.09 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Strike price $ 16.00 Risk-free interest rate 2.91 % Expected dividend yield 0 % Expected volatility 32.67 % Expected term (in years) 6.25 |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Number of Grant Date Units Exercise Price Outstanding at December 31, 2015 76,125 $ 9.95 Granted - - Exercised 1,450 9.95 Canceled or expired 2,175 9.95 Outstanding at December 31, 2016 72,500 9.95 Granted - - Exercised 2,175 9.95 Canceled or expired 5,075 9.95 Outstanding at December 31, 2017 65,250 9.95 Granted - - Exercised 63,250 9.95 Canceled or expired 2,000 9.95 Outstanding at December 31, 2018 - - |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Number of Weighted Units Average Unvested at December 31, 2015 277,992 $ 6.73 Granted 20,000 9.96 Vested 55,492 8.97 Forfeited 5,000 9.30 Unvested at December 31, 2016 237,500 6.79 Granted 292,500 10.37 Vested 69,333 6.62 Forfeited 14,667 7.69 Unvested at December 31, 2017 446,000 $ 9.14 Granted - - Vested-pre IPO 105,307 7.74 Forfeited-pre IPO 6,667 7.52 Unvested at June 13, 2018 334,026 9.62 Conversion in connection with IPO 4.6666667 Unvested post-IPO 1,558,787 2.06 Vested-post IPO 144,667 2.67 Forfeited post IPO 12,446 1.99 Unvested at December 31, 2018 1,401,674 $ 2.00 |
Note 16 - Fair Value Measurem_2
Note 16 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2018 Fair Value Input Level Liabilities Forward Contract $ 1,793 3 2017 Fair Value Input Level Liabilities Forward Contract $ 1,985 3 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | 2018 2017 2016 Balance at beginning of year $ 1,985 $ 2,683 $ 4,000 Cash Settlement - - 2,200 Forward Contract Adjustment (192 ) (698 ) 883 Balance at end of year $ 1,793 $ 1,985 $ 2,683 |
Note 17 - Income (Loss) Per S_2
Note 17 - Income (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2018 2017 2016 Net income (loss) $ 26,106 $ (3,937 ) $ (15,974 ) Net income attributable to noncontrolling interest 1,207 123 550 Net income (loss) attributable to common stockholders $ 24,899 $ (4,060 ) $ (16,524 ) Basic weighted average of outstanding shares of common stock 29,470 6,385 6,385 Dilutive effect of equity awards 663 - - Diluted weighted average of outstanding shares of common stock 30,133 6,385 6,385 Basic earnings (loss) per share $ 0.84 $ (0.64 ) $ (2.59 ) Diluted earnings (loss) per share $ 0.83 $ (0.64 ) $ (2.59 ) |
Note 18 - Segment Information (
Note 18 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Year Ended December 31, 2018 2017 2016 Revenues Truckload $ 1,562,098 $ 1,382,167 $ 1,301,574 Brokerage 242,817 173,218 149,631 Total Operating Revenue $ 1,804,915 $ 1,555,385 $ 1,451,205 Operating Income Truckload $ 69,088 $ 25,200 $ 25,962 Brokerage 9,818 3,408 1,769 Total Operating Income $ 78,906 $ 28,608 $ 27,731 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year Ended December 31, 2018 2017 2016 Revenues United States $ 1,751,556 $ 1,504,926 $ 1,402,023 Foreign countries Mexico 53,359 50,459 49,182 Total $ 1,804,915 $ 1,555,385 $ 1,451,205 Long-lived Assets United States $ 518,717 $ 459,021 $ 303,520 Foreign countries Mexico - 4,884 6,220 Total $ 518,717 $ 463,905 $ 309,740 |
Note 19 - Quarterly Financial_2
Note 19 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2018: First Quarter Second Quarter Third Quarter Fourth Quarter Operating revenues $ 425,708 $ 449,758 $ 460,227 $ 469,222 Operating income (1) 14,854 20,018 22,892 21,142 Net income (1) (2) 1,159 615 16,129 6,996 Basic earnings per share 0.18 0.04 0.33 0.14 Diluted earnings per share 0.18 0.04 0.33 0.14 2017: First Quarter Second Quarter Third Quarter Fourth Quarter Operating revenues $ 363,676 $ 370,350 $ 390,126 $ 431,233 Operating income 1,928 2,689 11,534 12,457 Net income (loss) (3) (4,432 ) (8,452 ) (675 ) 9,499 Basic earnings (loss) per share (0.69 ) (1.32 ) (0.11 ) 1.49 Diluted earnings (loss) per share (0.69 ) (1.32 ) (0.11 ) 1.49 |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operations (Details Textual) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2018USD ($)$ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | Oct. 12, 2007 | |
Number of Reportable Segments | 2 | |||
Stock Issued During Period, Shares, New Issues | 16,668,000 | |||
Preferred Stock, Shares Authorized | 9,333,333 | |||
Common Class A [Member] | ||||
Number of Shares Issued Per Each Non Voting Membership Unit Upon Reorganization | 4.6666667 | |||
Common Stock Voting Rights Per Share | 1 | |||
Stock Issued During Period, Shares, New Issues | 16,668,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 16 | |||
Proceeds from Issuance of Common Stock | $ | $ 246.6 | |||
Common Stock, Shares Authorized | 140,000,000 | 30,000,000 | ||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | ||
Common Class B [Member] | ||||
Number of Shares Issued Per Each Non Voting Membership Unit Upon Reorganization | 4.6666667 | |||
Common Stock Voting Rights Per Share | 5 | |||
Common Stock, Shares Authorized | 35,000,000 | 0 | ||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | ||
New Mountain Lake Holdings, LLC [Member] | ||||
Ownership Percentage | 100.00% |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2018 | |
Capitalized Contract Cost, Net, Total | $ 3,300,000 | $ 3,300,000 | $ 3,300,000 | ||||
Capitalized Contract Cost, Accumulated Amortization | 1,500,000 | 1,500,000 | 1,500,000 | ||||
Contract with Customer, Asset, Net, Total | 2,900,000 | 2,900,000 | 2,900,000 | ||||
Revenue, Remaining Performance Obligation, Amount | 2,400,000 | 2,400,000 | 2,400,000 | ||||
Foreign Currency Transaction Gain (Loss), before Tax, Total | 100,000 | $ (300,000) | $ 800,000 | ||||
Reinsurance Retention Policy, Amount Retained | 400,000 | 800,000 | |||||
Equity Method Investment, Other than Temporary Impairment | 1,800,000 | 1,804,000 | |||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (17,335,000) | $ (17,335,000) | $ (17,335,000) | (43,459,000) | |||
Accounting Standards Update 2014-09 [Member] | |||||||
Retained Earnings (Accumulated Deficit), Ending Balance | 1,500,000 | ||||||
Xpress Global Sytems [Member] | |||||||
Equity Method Investment, Ownership Percentage | 10.00% | 10.00% | 10.00% | 10.00% | |||
Equity Method Investment, Other than Temporary Impairment | $ 900,000 | $ 900,000 | |||||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Largest Customer [Member] | |||||||
Concentration Risk, Percentage | 11.80% | ||||||
Term Loan [Member] | |||||||
Debt Issuance Costs, Net, Total | 1,300,000 | $ 1,300,000 | $ 1,300,000 | 6,500,000 | |||
Credit Facility [Member] | Revolving Credit Facility [Member] | |||||||
Debt Issuance Costs, Gross | 1,500,000 | 1,500,000 | 1,500,000 | 3,200,000 | |||
Accumulated Amortization, Debt Issuance Costs | $ 200,000 | $ 200,000 | 200,000 | 2,500,000 | |||
Revolving and Term Loan Facility [Member] | |||||||
Amortization of Debt Issuance Costs | 1,600,000 | 3,400,000 | $ 4,900,000 | ||||
Customer Relationships [Member] | |||||||
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 | |||||
Minimum [Member] | Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | |||||||
Impact of Adoption of Accounting Standards Update | $ 175,000,000 | ||||||
Minimum [Member] | Customer Relationships [Member] | |||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||||||
Maximum [Member] | Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | |||||||
Impact of Adoption of Accounting Standards Update | $ 185,000,000 | ||||||
Maximum [Member] | Customer Relationships [Member] | |||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||||||
Revenue Equipment [Member] | Minimum [Member] | |||||||
Property, Plant and Equipment, Salvage Value, Percentage | 25.00% | 25.00% | 25.00% | ||||
Revenue Equipment [Member] | Maximum [Member] | |||||||
Property, Plant and Equipment, Salvage Value, Percentage | 50.00% | 50.00% | 50.00% | ||||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Revenue Equipment [Member] | |||||||
Disposal Group, Including Discontinued Operation, Assets, Total | $ 5,200,000 | $ 5,200,000 | $ 5,200,000 | ||||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Assets of a Business [Member] | |||||||
Disposal Group, Including Discontinued Operation, Assets, Total | $ 28,000,000 | $ 28,000,000 | $ 28,000,000 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Effect of Accounting Policy Adoption (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Operating revenues | $ 469,222 | $ 460,227 | $ 449,758 | $ 425,708 | $ 431,233 | $ 390,126 | $ 370,350 | $ 363,676 | $ 1,804,915 | $ 1,555,385 | $ 1,451,205 | |||||
Total operating expenses | 1,726,009 | 1,526,777 | 1,423,474 | |||||||||||||
Operating income | 21,142 | [1] | 22,892 | [1] | 20,018 | [1] | 14,854 | [1] | 12,457 | 11,534 | 2,689 | 1,928 | 78,906 | 28,608 | 27,731 | |
Income (loss) before Income Taxes | 33,966 | (21,124) | (24,422) | |||||||||||||
Income tax provision (benefit) | 7,860 | (17,187) | (8,448) | |||||||||||||
Net income (loss) | 26,106 | (3,937) | (15,974) | |||||||||||||
Net income (loss) attributable to common stockholders | $ 6,996 | [1],[2] | $ 16,129 | [1],[2] | $ 615 | [1],[2] | $ 1,159 | [1],[2] | $ 9,499 | $ (675) | $ (8,452) | $ (4,432) | $ 24,899 | $ (4,060) | $ (16,524) | |
Basic earnings (loss) per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.84 | $ (0.64) | $ (2.59) | |||||
Basic weighted average of outstanding shares of common stock (in shares) | 29,470 | 6,385 | 6,385 | |||||||||||||
Diluted earnings (loss) per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.83 | $ (0.64) | $ (2.59) | |||||
Diluted weighted average of outstanding shares of common stock (in shares) | 30,133 | 6,385 | 6,385 | |||||||||||||
Customer receivables | $ 190,254 | $ 186,407 | $ 190,254 | $ 186,407 | ||||||||||||
Other current assets | 13,374 | 12,170 | 13,374 | 12,170 | ||||||||||||
Total current assets | 285,534 | 248,720 | 285,534 | 248,720 | ||||||||||||
Total assets | 910,487 | 820,571 | 910,487 | 820,571 | ||||||||||||
Accounts payable | 63,808 | 80,555 | 63,808 | 80,555 | ||||||||||||
Other accrued liabilities | 8,120 | 13,901 | 8,120 | 13,901 | ||||||||||||
Deferred income taxes | 19,978 | 15,630 | 19,978 | 15,630 | ||||||||||||
Accumulated deficit | (17,335) | (43,459) | (17,335) | (43,459) | ||||||||||||
Stockholders' equity (deficit) | 234,891 | (43,394) | 234,891 | (43,394) | ||||||||||||
Total stockholder's equity (deficit) | 238,387 | (41,105) | 238,387 | (41,105) | $ (37,168) | $ (21,194) | ||||||||||
Total liabilities, redeemable restricted units and stockholder's equity (deficit) | 910,487 | 820,571 | 910,487 | 820,571 | ||||||||||||
Receivables | (8,972) | (32,051) | 13,114 | |||||||||||||
Other assets | (3,438) | (529) | (1,857) | |||||||||||||
Accounts payable and other accrued liabilities | (21,020) | 41,930 | 10,291 | |||||||||||||
Deferred income tax provision | 5,691 | (20,156) | $ (12,245) | |||||||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||||||||||||
Operating revenues | 1,805,860 | |||||||||||||||
Total operating expenses | 1,727,856 | |||||||||||||||
Operating income | 78,004 | |||||||||||||||
Income (loss) before Income Taxes | 33,064 | |||||||||||||||
Income tax provision (benefit) | 7,598 | |||||||||||||||
Net income (loss) | 25,466 | |||||||||||||||
Net income (loss) attributable to common stockholders | $ 24,259 | |||||||||||||||
Basic earnings (loss) per share (in dollars per share) | $ 0.82 | |||||||||||||||
Basic weighted average of outstanding shares of common stock (in shares) | 29,470 | |||||||||||||||
Diluted earnings (loss) per share (in dollars per share) | $ 0.81 | |||||||||||||||
Diluted weighted average of outstanding shares of common stock (in shares) | 30,133 | |||||||||||||||
Customer receivables | 187,348 | $ 187,348 | ||||||||||||||
Other current assets | 11,562 | 11,562 | ||||||||||||||
Total current assets | 280,816 | 280,816 | ||||||||||||||
Total assets | 905,769 | 905,769 | ||||||||||||||
Accounts payable | 61,916 | 61,916 | ||||||||||||||
Other accrued liabilities | 7,771 | 7,771 | ||||||||||||||
Deferred income taxes | 19,600 | 19,600 | ||||||||||||||
Accumulated deficit | (19,434) | (19,434) | ||||||||||||||
Stockholders' equity (deficit) | 232,792 | 232,792 | ||||||||||||||
Total stockholder's equity (deficit) | 236,288 | 236,288 | ||||||||||||||
Total liabilities, redeemable restricted units and stockholder's equity (deficit) | 905,769 | 905,769 | ||||||||||||||
Receivables | (9,917) | |||||||||||||||
Other assets | (2,090) | |||||||||||||||
Accounts payable and other accrued liabilities | (20,521) | |||||||||||||||
Deferred income tax provision | 5,429 | |||||||||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||||||||
Accumulated deficit | $ 1,500 | $ 1,500 | ||||||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||
Operating revenues | (945) | |||||||||||||||
Total operating expenses | (1,847) | |||||||||||||||
Operating income | 902 | |||||||||||||||
Income (loss) before Income Taxes | 902 | |||||||||||||||
Income tax provision (benefit) | 262 | |||||||||||||||
Net income (loss) | 640 | |||||||||||||||
Net income (loss) attributable to common stockholders | $ 640 | |||||||||||||||
Basic earnings (loss) per share (in dollars per share) | $ 0.02 | |||||||||||||||
Basic weighted average of outstanding shares of common stock (in shares) | 29,470 | |||||||||||||||
Diluted earnings (loss) per share (in dollars per share) | $ 0.02 | |||||||||||||||
Diluted weighted average of outstanding shares of common stock (in shares) | 30,133 | |||||||||||||||
Customer receivables | 2,906 | $ 2,906 | ||||||||||||||
Other current assets | 1,812 | 1,812 | ||||||||||||||
Total current assets | 4,718 | 4,718 | ||||||||||||||
Total assets | 4,718 | 4,718 | ||||||||||||||
Accounts payable | 1,892 | 1,892 | ||||||||||||||
Other accrued liabilities | 349 | 349 | ||||||||||||||
Deferred income taxes | 378 | 378 | ||||||||||||||
Accumulated deficit | 2,099 | 2,099 | ||||||||||||||
Stockholders' equity (deficit) | 2,099 | 2,099 | ||||||||||||||
Total stockholder's equity (deficit) | 2,099 | 2,099 | ||||||||||||||
Total liabilities, redeemable restricted units and stockholder's equity (deficit) | $ 4,718 | 4,718 | ||||||||||||||
Receivables | 945 | |||||||||||||||
Other assets | (1,348) | |||||||||||||||
Accounts payable and other accrued liabilities | (499) | |||||||||||||||
Deferred income tax provision | $ 262 | |||||||||||||||
[1] | Fourth quarter 2018 results include an impairment charge of $10.7 million related to assets of business held for sale. | |||||||||||||||
[2] | Fourth quarter 2018 results include an impairment charge of $1.8 million related to equity method investments. |
Note 3 - Business Acquisition (
Note 3 - Business Acquisition (Details Textual) - USD ($) $ in Thousands | Mar. 20, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Payments to Acquire Businesses, Gross | $ 2,219 | |||
Goodwill, Ending Balance | $ 57,708 | $ 57,708 | ||
Small Truckload Carrier [Member] | ||||
Business Combination, Consideration Transferred, Total | $ 10,600 | |||
Payments to Acquire Businesses, Gross | 2,200 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | 5,400 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 5,900 | |||
Goodwill, Ending Balance | 2,200 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total | 5,400 | |||
Small Truckload Carrier [Member] | Customer Relationships [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500 | |||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||
Small Truckload Carrier [Member] | Paid in Three Equal Installments each Anniversary Date [Member] | ||||
Payments to Acquire Businesses, Gross | $ 3,000 |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Adjustment Amount | $ 200,000 | |||
Deferred Tax Liabilities, Foreign Tax Withholding | $ 900,000 | |||
Deferred Tax Assets, Valuation Allowance, Total | 5,826,000 | 3,393,000 | $ 3,530,000 | $ 3,583,000 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 2,400,000 | (100,000) | ||
Unrecognized Tax Benefits, Ending Balance | 829,000 | 5,506,000 | 5,200,000 | $ 5,200,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 100,000 | 100,000 | $ 100,000 | |
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 800,000 | |||
Minimum [Member] | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 0 | |||
Maximum [Member] | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 700,000 | |||
Domestic Tax Authority [Member] | ||||
Operating Loss Carryforwards, Total | 177,700,000 | 13,500,000 | ||
Domestic Tax Authority [Member] | Created Before 2018 [Member] | ||||
Operating Loss Carryforwards, Total | 27,000,000 | |||
Domestic Tax Authority [Member] | Created in 2018 [Member] | ||||
Operating Loss Carryforwards, Total | 150,700,000 | |||
Domestic Tax Authority [Member] | Expiring Between 2035 and 2038 [Member] | ||||
Tax Credit Carryforward, Amount | 9,100,000 | |||
State and Local Jurisdiction [Member] | ||||
Tax Credit Carryforward, Amount | 600,000 | 500,000 | ||
Operating Loss Carryforwards, Total | 122,300,000 | 82,900,000 | ||
State and Local Jurisdiction [Member] | Expiring in Years 2020 and Forward [Member] | ||||
Operating Loss Carryforwards, Total | 122,300,000 | |||
State and Local Jurisdiction [Member] | Expiring in Years 2019 Through 2028 [Member] | ||||
Tax Credit Carryforward, Amount | 600,000 | |||
Capital Loss Carryforward [Member] | Domestic Tax Authority [Member] | ||||
Tax Credit Carryforward, Amount | $ 0 | $ 8,700,000 |
Note 4 - Income Taxes - Compone
Note 4 - Income Taxes - Components of Earnings (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Domestic | $ 27,262 | $ (27,722) | $ (32,218) |
Mexico | 6,704 | 6,598 | 7,796 |
Income (loss) before Income Taxes | $ 33,966 | $ (21,124) | $ (24,422) |
Note 4 - Income Taxes - Income
Note 4 - Income Taxes - Income Tax Expense (Benefit) Summary (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Federal | $ (1,358) | $ (31) | $ 847 |
State | 911 | 605 | 314 |
Mexico | 2,616 | 2,396 | 2,636 |
2,169 | 2,970 | 3,797 | |
Federal | 5,113 | (21,190) | (11,248) |
State | 788 | 79 | (1,139) |
Mexico | (210) | 954 | 142 |
5,691 | (20,156) | (12,245) | |
Income tax provision (benefit) | $ 7,860 | $ (17,187) | $ (8,448) |
Note 4 - Income Taxes - Reconci
Note 4 - Income Taxes - Reconciliation of Income Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Federal income tax at statutory rate | $ 7,132 | $ (7,437) | $ (8,714) |
State income taxes, net of federal income tax benefit | 1,319 | (597) | (727) |
Nondeductible per diem paid to drivers | 1,182 | 2,476 | 2,556 |
Xpress Internacional activity | 1,616 | 76 | 466 |
Tax credits | (1,611) | (970) | (1,005) |
Provision to return adjustment | 35 | 248 | (1,659) |
Valuation allowance | 2,433 | 950 | (22) |
Foreign transition tax on deemed distribution | (30) | 2,315 | |
Global intangible low-taxed income (GILTI) | 1,217 | ||
Tax Act impact of federal rate change | (14,723) | ||
Basis difference on assets held for sale | (2,524) | ||
Change in reserve for uncertain tax positions and settlements | (3,278) | 146 | 100 |
Affirmative issue - imputed interest expense | 1,223 | (1,223) | |
Non-taxable life insurance death benefit | (1,004) | ||
Expiration of federal capital loss carryforward | 1,826 | ||
Excess tax benefits on share-based compensation | (651) | ||
Deferred Mexican withholding tax | (876) | 876 | |
Other, net | (149) | 676 | 557 |
Income tax provision (benefit) | $ 7,860 | $ (17,187) | $ (8,448) |
Note 4 - Income Taxes - Deferre
Note 4 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts | $ 1,333 | $ 1,099 | ||
Insurance and claims reserves | 22,503 | 24,261 | ||
Compensation and employee benefits | 2,973 | 2,355 | ||
Net operating loss and credit carryforwards | 53,552 | 15,225 | ||
Net federal capital loss carryforward | 1,826 | |||
Capital lease obligations | 4,782 | 6,512 | ||
Investment in subsidiaries | 6,660 | 1,540 | ||
Other | 551 | 3,487 | ||
Valuation allowance | (5,826) | (3,393) | $ (3,530) | $ (3,583) |
Total deferred tax assets | 86,528 | 52,912 | ||
Property and equipment | 97,073 | 56,570 | ||
Intangibles | 8,007 | 8,392 | ||
Prepaid license fees | 974 | 1,014 | ||
Other | 452 | 2,566 | ||
Total deferred tax liabilities | 106,506 | 68,542 | ||
Net deferred tax liability | $ 19,978 | $ 15,630 |
Note 4 - Income Taxes - Defer_2
Note 4 - Income Taxes - Deferred Tax Valuation Allowance (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at Beginning Period | $ 3,393,000 | $ 3,530,000 | $ 3,583,000 |
Changes in estimated realization of deferred tax assets | 2,400,000 | (100,000) | |
Balance at end of period | 5,826,000 | 3,393,000 | 3,530,000 |
Charge to Costs and Expenses [Member] | |||
Changes in estimated realization of deferred tax assets | 5,654,000 | 1,081,000 | |
Charges to Other Accounts [Member] | |||
Changes in estimated realization of deferred tax assets | (31,000) | ||
Deductions [Member] | |||
Changes in estimated realization of deferred tax assets | $ 3,221,000 | $ 1,218,000 | $ 22,000 |
Note 4 - Income Taxes - Unrecog
Note 4 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Beginning balance | $ 5,506,000 | $ 5,200,000 | $ 5,200,000 |
Additions based on tax positions taken in prior years | 829,000 | 306,000 | |
Reductions as a result of a lapse of the applicable statute of limitations | (5,506,000) | ||
Ending balance | $ 829,000 | $ 5,506,000 | $ 5,200,000 |
Note 5 - Assets Held for Sale_2
Note 5 - Assets Held for Sale (Details Textual) - USD ($) $ in Thousands | Jan. 17, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down | $ 10,693 | |||
Xpress International [Member] | Subsequent Event [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||||
Proceeds from Divestiture of Businesses | $ 4,500 | |||
Disposal Group, Including Discontinued Operation, Consideration, Notes Receivable | 6,000 | |||
Disposal Group, Including Discontinued Operation, Contingent Consideration | 2,500 | |||
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down | 11,600 | |||
Xpress International [Member] | Subsequent Event [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Tractors [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 2,500 | |||
Xpress International [Member] | ||||
Equity Method Investment, Ownership Percentage | 95.00% |
Note 5 - Assets Held for Sale -
Note 5 - Assets Held for Sale - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Total current liabilities associated with assets held for sale | $ 6,856 | |
Long-term liabilities associated with assets held for sale | 8,353 | |
Xpress International [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Total current assets of business held for sale | 28,038 | |
Property, plant and equipment | 10,635 | |
Other assets | 994 | |
Total disposal group assets held for sale | 39,667 | |
Total current liabilities associated with assets held for sale | 6,856 | |
Long-term liabilities associated with assets held for sale | 8,353 | |
Total liabilities associated with assets of business held for sale | 15,209 | |
Held for sale impairment charge | 11,629 | |
Fair value of disposal group held for sale | $ 12,829 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Total | $ 85,900 | $ 86,000 | $ 56,600 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | (7,123) | (2,029) | (5,822) |
Capital Leased Assets, Gross, Total | 39,500 | 46,100 | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | 18,100 | 19,800 | |
Capitalized Computer Software, Amortization | 3,100 | 3,800 | $ 7,800 |
Capitalized Computer Software, Accumulated Amortization | $ 60,200 | $ 57,800 | |
Minimum [Member] | |||
Capital Lease, Term | 2 years | ||
Maximum [Member] | |||
Capital Lease, Term | 8 years 120 days |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Cost and Lives of Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Property and equipment, at cost | $ 898,530 | $ 835,814 |
Land and Land Improvements [Member] | ||
Property and equipment, at cost | 22,130 | 20,880 |
Building and Building Improvements [Member] | ||
Property and equipment, at cost | $ 85,317 | 79,820 |
Building and Building Improvements [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 10 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 40 years | |
Equipment [Member] | ||
Property and equipment, at cost | $ 648,648 | 597,644 |
Equipment [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 3 years | |
Equipment [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 15 years | |
Furniture and Fixtures [Member] | ||
Property and equipment, at cost | $ 47,482 | 46,524 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 3 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 7 years | |
Leasehold Improvements [Member] | ||
Property and equipment, at cost | $ 23,027 | 25,387 |
Technology Equipment [Member] | ||
Property and equipment, at cost | $ 71,926 | $ 65,559 |
Technology Equipment [Member] | Minimum [Member] | ||
Estimated Useful Lives (Year) | 1 year | |
Technology Equipment [Member] | Maximum [Member] | ||
Estimated Useful Lives (Year) | 7 years |
Note 7 - Goodwill - Goodwill by
Note 7 - Goodwill - Goodwill by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Goodwill Balance | $ 57,708 | $ 57,708 | |
Truckload Segment [Member] | |||
Goodwill Balance | 57,708 | $ 57,708 | $ 55,508 |
Acquisition Activity | $ 2,200 |
Note 8 - Intangible Assets (Det
Note 8 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Trade Names, Gross | $ 23.3 | $ 23.3 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets, Gross, Total | 21.7 | 21.7 | |
Finite-lived Intangible Assets Acquired | 2.5 | ||
Amortization of Intangible Assets, Total | 1.8 | 1.6 | $ 1.3 |
Finite-Lived Intangible Assets, Accumulated Amortization | $ 16.1 | $ 14.3 | |
Finite-lived Intangible Assets, Remaining Weighted Average Useful Life | 4 years | 4 years 292 days |
Note 8 - Intangible Assets - Cu
Note 8 - Intangible Assets - Customer Relationships Future Amortization Expense (Details) - Customer Relationships [Member] $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 1,694 |
2,020 | 1,679 |
2,021 | 1,393 |
2,022 | 345 |
2,023 | 345 |
Thereafter | 115 |
$ 5,571 |
Note 9 - Equity Investments (De
Note 9 - Equity Investments (Details Textual) - USD ($) | Sep. 30, 2013 | Nov. 30, 2012 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2018 | Apr. 13, 2015 | Jan. 02, 2013 |
Equity Method Investment, Other than Temporary Impairment | $ 1,800,000 | $ 1,804,000 | ||||||||
Dylka Distribuciones Logisti K [Member] | ||||||||||
Additional Capital Contributed | $ 400,000 | |||||||||
Equity Method Investments | $ 0 | 0 | 0 | 600,000 | ||||||
Dylka Distribuciones Logisti K and XPS Logisti-K Systems [Member] | ||||||||||
Payments to Acquire Working Capital Loan Receivable | 5,000,000 | |||||||||
Working Capital Loan Receivable, Including Accrued Interest, Total | $ 4,900,000 | $ 4,900,000 | $ 4,900,000 | 4,900,000 | ||||||
Drivertech, LLC [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 27.73% | 27.73% | 27.73% | |||||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | 0 | ||||||
Drivertech, LLC [Member] | Management [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 16.16% | 16.16% | 16.16% | |||||||
XPS Logisti-K Systems [Member] | ||||||||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | 0 | ||||||
Parker Global Enterprises, Inc. [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 45.00% | 45.00% | 45.00% | |||||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | 0 | ||||||
Equity Method Investments, Fair Value Disclosure | $ 10,400,000 | |||||||||
Xpress Global Sytems [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 10.00% | 10.00% | 10.00% | 10.00% | ||||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | $ 1,300,000 | ||||||
Equity Method Investments, Fair Value Disclosure | $ 5,200,000 | |||||||||
Equity Method Investment, Percentage Sold | 10.00% | 10.00% | 10.00% | |||||||
Equity Method Investment, Other than Temporary Impairment | $ 900,000 | $ 900,000 | ||||||||
Xpress Global Sytems [Member] | Common Stock [Member] | ||||||||||
Equity Method Investments, Fair Value Disclosure | 200,000 | |||||||||
Xpress Global Sytems [Member] | Preferred Stock [Member] | ||||||||||
Equity Method Investments, Fair Value Disclosure | $ 5,000,000 | |||||||||
XPS Logisti-K Systems [Member] | ||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 62.00% | |||||||||
Dylka Distribuciones Logisti K [Member] | ||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 70.00% | |||||||||
Dylka Distribuciones Logisti K [Member] | XPS Logisti-K Systems [Member] | ||||||||||
Ownership Percentage | 42.00% | |||||||||
Drivertech, LLC [Member] | ||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 56.11% | 56.11% | 56.11% | |||||||
XPS Logisti-K Systems [Member] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 38.00% | |||||||||
Business Combination, Consideration Transferred, Total | $ 500,000 | |||||||||
Dylka Distribuciones Logisti K [Member] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 30.00% | |||||||||
Business Combination, Consideration Transferred, Total | $ 1,000,000 |
Note 9 - Equity Investments - S
Note 9 - Equity Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current assets | $ 23,325 | $ 37,131 | |
Non-current assets | 29,297 | 43,718 | |
Total Assets | 52,622 | 80,849 | |
Current liabilities | 54,733 | 66,726 | |
Non-current liabilities | 83,085 | 89,723 | |
Total Liabilities | 137,818 | 156,449 | |
Net Liabilities | (85,196) | (75,600) | |
Total operating revenue | 158,414 | 243,311 | $ 233,905 |
Operating expenses | 151,523 | 247,384 | 240,157 |
Operating income (loss) | 6,891 | (4,073) | (6,252) |
Net loss | $ (3,679) | $ (12,023) | $ (16,917) |
Note 10 - Long-term Debt (Detai
Note 10 - Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Long-term Debt, Total | $ 405,600 | $ 405,600 | ||||
Term Loan [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.20% | |||||
Credit Facility [Member] | ||||||
Line of Credit Facility Additional Borrowing Capacity Available | $ 75,000,000 | |||||
Line of Credit Facility, Swingline Sub Facility, Maximum Borrowing Capacity | 15,000,000 | |||||
Credit Facility [Member] | Prime Rate [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | |||||
Credit Facility [Member] | Prime Rate [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | |||||
Credit Facility [Member] | Prime Rate [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||||
Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||
Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||||
Credit Facility [Member] | Term Facility [Member] | ||||||
Debt Instrument, Face Amount | $ 200,000,000 | |||||
Credit Facility [Member] | Term Facility [Member] | Minimum [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.25% | |||||
Credit Facility [Member] | Term Facility [Member] | Maximum [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | |||||
Old Term Loan Agreement [Member] | Term Loan [Member] | ||||||
Long-term Debt, Total | $ 193,200,000 | |||||
Debt Instrument, Periodic Payment, Principal | $ 700,000 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 12.20% | |||||
Debt Instrument, Fee Amount | $ 5,500,000 | $ 3,700,000 | ||||
Interest Expense, Debt, Total | 1,400,000 | 2,700,000 | ||||
Debt Issuance Costs, Gross | 4,100,000 | 1,000,000 | ||||
Debt Instrument, Unamortized Discount, Total | 800,000 | |||||
Amortization of Debt Discount (Premium) | 100,000 | $ 400,000 | $ 600,000 | |||
Write off of Unamortized Discount | $ 600,000 | |||||
Write off of Deferred Debt Issuance Cost | 5,300,000 | |||||
Old Term Loan Agreement [Member] | Term Loan [Member] | Lender 1 [Member] | ||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 1,400,000 | |||||
Old Term Loan Agreement [Member] | Term Loan [Member] | Third Party [Member] | ||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 100,000 | |||||
Old Term Loan Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 10.00% | |||||
Old Term Loan Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 11.50% | |||||
Revolving Credit Facility [Member] | Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 150,000,000 | |||||
Letters of Credit Outstanding, Amount | $ 31,700,000 | 31,700,000 | ||||
Long-term Line of Credit, Total | 0 | 0 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | 118,300,000 | 118,300,000 | ||||
Debt Issuance Costs, Gross | 1,500,000 | 1,500,000 | $ 3,200,000 | |||
Revolving Credit Facility [Member] | Credit Facility [Member] | Minimum [Member] | ||||||
Line of Credit Facility, Commitment Fee Percentage | 0.25% | |||||
Revolving Credit Facility [Member] | Credit Facility [Member] | Maximum [Member] | ||||||
Line of Credit Facility, Commitment Fee Percentage | 0.35% | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 155,000,000 | |||||
Long-term Line of Credit, Total | 29,300,000 | |||||
Write off of Deferred Debt Issuance Cost | $ 200,000 | |||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 100,000 | |||||
Line of Credit Facility, Commitment Fee Amount | $ 300,000 | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | Prime Rate [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | Prime Rate [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||||
Revolving Credit Facility [Member] | Old Line of Credit [Member] | Base Rate [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | |||||
Letter of Credit [Member] | Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000,000 | |||||
Term Facility [Member] | Credit Facility [Member] | ||||||
Long-term Line of Credit, Total | $ 195,000,000 | $ 195,000,000 |
Note 10 - Long-term Debt - Outs
Note 10 - Long-term Debt - Outstanding Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term debt, gross | $ 312,819 | $ 480,472 |
Capital lease obligations, maturing at various dates through April 2024 | 20,313 | 27,761 |
Long-term debt and Captial lease obligations including current maturities | 425,913 | 612,804 |
Less: Unamortized discount and debt issuance costs | (1,347) | (7,266) |
Less: Current maturities of long-term debt | (113,094) | (132,332) |
Long-term debt and capital lease obligations | 311,472 | 473,206 |
Term Loan [Member] | ||
Long-term debt, gross | 193,177 | |
Line of Credit [Member] | ||
Long-term debt, gross | 29,333 | |
Term Loan at 4.8% [Member] | ||
Long-term debt, gross | 195,000 | |
Revenue Equipment Loan [Member] | ||
Long-term debt, gross | 184,867 | 310,850 |
Notes Payable, Other Payables [Member] | ||
Long-term debt, gross | 25,516 | |
Mortgage Note Payable [Member] | ||
Long-term debt, gross | 18,861 | 20,033 |
Other Debt [Member] | ||
Long-term debt, gross | $ 6,872 | $ 6,134 |
Note 10 - Long-term Debt - Ou_2
Note 10 - Long-term Debt - Outstanding Debt (Details) (Parentheticals) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Term Loan [Member] | ||
Interest rate | 12.20% | |
Maturity date | May 31, 2020 | |
Line of Credit [Member] | ||
Maturity date | Mar. 31, 2020 | |
Term Loan at 4.8% [Member] | ||
Interest rate | 4.80% | |
Maturity date | Jun. 30, 2023 | |
Revenue Equipment Loan [Member] | ||
Maturity date | Dec. 31, 2025 | Dec. 31, 2025 |
Weighted average interest rate | 5.00% | 4.70% |
Collateral | $ 197.1 | $ 315.7 |
Notes Payable, Other Payables [Member] | ||
Interest rate | 13.00% | |
Maturity date | Nov. 30, 2020 | |
Mortgage Note Payable [Member] | ||
Collateral | $ 241 | $ 247 |
Mortgage Note Payable [Member] | Minimum [Member] | ||
Interest rate | 5.25% | 5.25% |
Mortgage Note Payable [Member] | Maximum [Member] | ||
Interest rate | 6.99% | 6.99% |
Capital Lease Obligations [Member] | ||
Maturity date | Apr. 30, 2024 | Apr. 30, 2024 |
Note 10 - Long-Term Debt - Sche
Note 10 - Long-Term Debt - Scheduled Principal Payments of Long-term Debt (Details) | Dec. 31, 2018USD ($) |
2,019 | $ 106,383 |
2,020 | 27,960 |
2,021 | 26,938 |
2,022 | 47,021 |
2,023 | 178,888 |
Thereafter | 18,410 |
$ 405,600 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Rent Expense, Net, Total | $ 78,500 | $ 75,700 | $ 111,000 | |
Capital Leases, Future Minimum Payments, Net Minimum Payments, Total | 28,200 | |||
Capital Leases, Future Minimum Payments Due, Total | 22,598 | |||
Xpress International [Member] | ||||
Capital Leases, Future Minimum Payments Due, Total | $ 9,300 | |||
Capital Lease Obligations [Member] | Tractors [Member] | Minimum [Member] | ||||
Debt Instrument, Term | 3 years | |||
Capital Lease Obligations [Member] | Tractors [Member] | Maximum [Member] | ||||
Debt Instrument, Term | 5 years | |||
Capital Lease Obligations [Member] | Trailers [Member] | Minimum [Member] | ||||
Debt Instrument, Term | 5 years | |||
Capital Lease Obligations [Member] | Trailers [Member] | Maximum [Member] | ||||
Debt Instrument, Term | 8 years |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 7,797 |
2,019 | 60,303 |
2,020 | 7,564 |
2,020 | 42,632 |
2,021 | 4,086 |
2,021 | 35,302 |
2,022 | 1,427 |
2,022 | 20,751 |
2,023 | 1,427 |
2,023 | 15,884 |
Thereafter | 297 |
Thereafter | 14,080 |
Capital Leases, Future Minimum Payments Due, Total | 22,598 |
188,952 | |
Less: Amount representing interest | (2,285) |
20,313 | |
Less: Current portion | (6,711) |
$ 13,602 |
Note 12 - Related-party Trans_2
Note 12 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2014 | |
Payments to Acquire Property, Plant, and Equipment, Total | $ 223,939 | $ 240,417 | $ 54,710 | ||
Drivertech, LLC [Member] | |||||
Equity Method Investment, Ownership Percentage | 27.73% | ||||
Limited Liability Company [Member] | |||||
Notes Payable, Related Parties | 25,500 | ||||
Repayments of Related Party Debt | $ 26,600 | ||||
Paid-in-Kind Interest | 8,600 | ||||
NMLH [Member] | Drivertech, LLC [Member] | |||||
Equity Method Investment, Ownership Percentage | 44.10% | ||||
NMLH [Member] | Terminal Facility [Member] | |||||
Payments to Acquire Property, Plant, and Equipment, Total | $ 7,500 | ||||
NMLH [Member] | Rent Expense [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 500 | 900 | 1,000 | ||
Drivertech, LLC [Member] | |||||
Related Party Transaction, Amounts of Transaction | 1,500 | 1,500 | 1,900 | ||
Parker Global Enterprises, Inc. [Member] | |||||
Revenue from Related Parties | $ 200 | 200 | 300 | ||
Lessor, Operating Lease, Term of Contract | 10 years | ||||
Proceeds from Leases | $ 400 | 400 | $ 400 | ||
Related Party Transaction, Due from (to) Related Party, Total | $ 5,000 | ||||
Accounts Receivable, Related Parties | $ 3,100 | $ 3,300 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Details Textual) $ in Millions | Dec. 31, 2018USD ($) |
Capital Addition Purchase Commitments [Member] | |
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year | $ 162.9 |
Line of Credit [Member] | |
Letters of Credit Outstanding, Amount | $ 31.7 |
Note 14- Share-based Compensa_3
Note 14- Share-based Compensation (Details Textual) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||
Stock Appreciation Rights (SARs) [Member] | |||||
Allocated Share-based Compensation Expense, Total | $ 3.2 | $ 3.4 | $ 0.3 | $ 0.2 | |
Restricted Stock Units (RSUs) [Member] | |||||
Allocated Share-based Compensation Expense, Total | $ 0.9 | $ 0.7 | $ 0.5 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 36 days | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 2.2 | ||||
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 7 years | ||||
The 2018 Omnibus Incentive Plan [Member] | |||||
Common Stock, Capital Shares Reserved for Future Issuance | 3.2 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 0.8 | ||||
The 2018 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | |||||
Allocated Share-based Compensation Expense, Total | 1 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 2.8 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | ||||
The 2018 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||
The 2018 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||
The 2018 Omnibus Incentive Plan [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||
Allocated Share-based Compensation Expense, Total | $ 0.3 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 182 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 14 - Share-based Compensat
Note 14 - Share-based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] | 7 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Unvested (in shares) | shares | |
Unvested, weighted average (in dollars per share) | $ / shares | |
Granted (in shares) | shares | 287,232 |
Granted, weighted average (in dollars per share) | $ / shares | $ 14.30 |
Forfeited (in shares) | shares | 16,490 |
Forfeited, weighted average (in dollars per share) | $ / shares | $ 16 |
Unvested (in shares) | shares | 270,742 |
Unvested, weighted average (in dollars per share) | $ / shares | $ 14.20 |
Note 14 - Share-based Compens_2
Note 14 - Share-based Compensation - Stock Option Activity (Details) | 7 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Unvested (in shares) | shares | |
Outstanding (in dollars per share) | $ / shares | |
Granted (in shares) | shares | 192,203 |
Granted, weighted average (in dollars per share) | $ / shares | $ 6.09 |
Forfeited (in shares) | shares | 14,943 |
Forfeited, weighted average (in dollars per share) | $ / shares | $ 6.09 |
Unvested (in shares) | shares | 177,260 |
Outstanding (in dollars per share) | $ / shares | $ 6.09 |
Note 14 - Share-based Compens_3
Note 14 - Share-based Compensation - Valuation Assumptions (Details) | 12 Months Ended |
Dec. 31, 2018$ / shares | |
Strike price (in dollars per share) | $ 16 |
Risk-free interest rate | 2.91% |
Expected dividend yield | 0.00% |
Expected volatility | 32.67% |
Expected term (in years) (Year) | 6 years 91 days |
Note 14 - Share-based Compens_4
Note 14 - Share-based Compensation - Stock Appreciation Rights (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding (in dollars per share) | $ 6.09 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Outstanding (in shares) | 65,250 | 72,500 | 76,125 |
Outstanding (in dollars per share) | $ 9.95 | $ 9.95 | $ 9.95 |
Exercised (in shares) | 63,250 | 2,175 | 1,450 |
Exercised (in dollars per share) | $ 9.95 | $ 9.95 | $ 9.95 |
Canceled or expired (in shares) | 2,000 | 5,075 | 2,175 |
Canceled or expired (in dollars per share) | $ 9.95 | $ 9.95 | $ 9.95 |
Outstanding (in shares) | 65,250 | 72,500 | |
Outstanding (in dollars per share) | $ 9.95 | $ 9.95 |
Note 14 - Share-based Compens_5
Note 14 - Share-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 1 Months Ended | 5 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | May 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unvested (in shares) | 334,026 | 446,000 | 1,558,787 | 237,500 | 277,992 |
Unvested, weighted average (in dollars per share) | $ 9.62 | $ 9.14 | $ 2.06 | $ 6.79 | $ 6.73 |
Granted (in shares) | 292,500 | 20,000 | |||
Granted, weighted average (in dollars per share) | $ 10.37 | $ 9.96 | |||
Vested (in shares) | 105,307 | 144,667 | 69,333 | 55,492 | |
Vested, weighted average (in dollars per share) | $ 7.74 | $ 2.67 | $ 6.62 | $ 8.97 | |
Forfeited (in shares) | 6,667 | 12,446 | 14,667 | 5,000 | |
Forfeited, weighted average (in dollars per share) | $ 7.52 | $ 1.99 | $ 7.69 | $ 9.30 | |
Unvested (in shares) | 334,026 | 446,000 | 1,558,787 | 237,500 | 277,992 |
Unvested, weighted average (in dollars per share) | $ 9.62 | $ 9.14 | $ 2.06 | $ 6.79 | $ 6.73 |
Conversion in connection with IPO (in shares) | 4.6666667 | ||||
Unvested (in shares) | 1,558,787 | 334,026 | 1,401,674 | 446,000 | 237,500 |
Unvested, weighted average (in dollars per share) | $ 2.06 | $ 9.62 | $ 2 | $ 9.14 | $ 6.79 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | ||
Defined Contribution Plan, Cost | $ 1.7 | $ 1.7 | $ 1.7 |
Defined Contribution Plan, Maximum Defer Base Salary, Percent | 85.00% | ||
Defined Contribution Plan, Maximum Defer Bonus, Percent | 100.00% | ||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 3 | 3.1 | |
Payment to Acquire Life Insurance Policy, Investing Activities | 2.9 | $ 2.1 | |
Gain (Loss) On Death Benefit | $ 4 |
Note 16 - Fair Value Measurem_3
Note 16 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Payments to Acquire Businesses, Gross | $ 2,219 | ||
Xpress International [Member] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 5.00% | ||
Payments to Acquire Businesses, Gross | $ 2,200 |
Note 16 - Fair Value Measurem_4
Note 16 - Fair Value Measurements - Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Inputs, Level 3 [Member] | Forward Contracts [Member] | ||
Forward Contract | $ 1,793 | $ 1,985 |
Note 16 - Fair Value Measurem_5
Note 16 - Fair Value Measurements - Changes in Fair Value of Assets and Liabilities Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at beginning of year | $ 1,985 | $ 2,683 | $ 4,000 |
Cash Settlement | 2,200 | ||
Forward Contract Adjustment | (192) | (698) | 883 |
Balance at end of year | $ 1,793 | $ 1,985 | $ 2,683 |
Note 17 - Income (Loss) Per S_3
Note 17 - Income (Loss) Per Share (Details Textual) | 12 Months Ended |
Dec. 31, 2018shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 448,002 |
Note 17 - Income (Loss) Per S_4
Note 17 - Income (Loss) Per Share - Basic and Diluted Per Share Calculations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Net income (loss) | $ 26,106 | $ (3,937) | $ (15,974) | ||||||||||||
Net income attributable to noncontrolling interest | 1,207 | 123 | 550 | ||||||||||||
Net income (loss) attributable to common stockholders | $ 6,996 | [1],[2] | $ 16,129 | [1],[2] | $ 615 | [1],[2] | $ 1,159 | [1],[2] | $ 9,499 | $ (675) | $ (8,452) | $ (4,432) | $ 24,899 | $ (4,060) | $ (16,524) |
Basic weighted average of outstanding shares of common stock (in shares) | 29,470 | 6,385 | 6,385 | ||||||||||||
Dilutive effect of equity awards (in shares) | 663 | ||||||||||||||
Diluted weighted average of outstanding shares of common stock (in shares) | 30,133 | 6,385 | 6,385 | ||||||||||||
Basic earnings (loss) per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.84 | $ (0.64) | $ (2.59) | ||||
Diluted earnings (loss) per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.83 | $ (0.64) | $ (2.59) | ||||
[1] | Fourth quarter 2018 results include an impairment charge of $1.8 million related to equity method investments. | ||||||||||||||
[2] | Fourth quarter 2018 results include an impairment charge of $10.7 million related to assets of business held for sale. |
Note 18 - Segment Information_2
Note 18 - Segment Information (Details Textual) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Number of Reportable Segments | 2 |
Truckload Segment [Member] | |
Percentage of Consolidated Revenue | 87.00% |
Brokerage Segment [Member] | |
Percentage of Consolidated Revenue | 13.00% |
MEXICO | |
Asset Impairment Charges, Total | $ 0 |
Note 18 - Segment Information -
Note 18 - Segment Information - Summary of Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Operating revenue | |||||||||||||||
Total Operating Revenue | $ 469,222 | $ 460,227 | $ 449,758 | $ 425,708 | $ 431,233 | $ 390,126 | $ 370,350 | $ 363,676 | $ 1,804,915 | $ 1,555,385 | $ 1,451,205 | ||||
Operating Income | |||||||||||||||
Total Operating Income | $ 21,142 | [1] | $ 22,892 | [1] | $ 20,018 | [1] | $ 14,854 | [1] | $ 12,457 | $ 11,534 | $ 2,689 | $ 1,928 | 78,906 | 28,608 | 27,731 |
Truckload Segment [Member] | |||||||||||||||
Operating revenue | |||||||||||||||
Total Operating Revenue | 1,562,098 | 1,382,167 | 1,301,574 | ||||||||||||
Operating Income | |||||||||||||||
Total Operating Income | 69,088 | 25,200 | 25,962 | ||||||||||||
Brokerage Segment [Member] | |||||||||||||||
Operating revenue | |||||||||||||||
Total Operating Revenue | 242,817 | 173,218 | 149,631 | ||||||||||||
Operating Income | |||||||||||||||
Total Operating Income | $ 9,818 | $ 3,408 | $ 1,769 | ||||||||||||
[1] | Fourth quarter 2018 results include an impairment charge of $10.7 million related to assets of business held for sale. |
Note 18 - Segment Information_3
Note 18 - Segment Information - Summary of Geographical Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total Operating Revenue | $ 469,222 | $ 460,227 | $ 449,758 | $ 425,708 | $ 431,233 | $ 390,126 | $ 370,350 | $ 363,676 | $ 1,804,915 | $ 1,555,385 | $ 1,451,205 |
Long-lived Assets | 518,717 | 463,905 | 518,717 | 463,905 | 309,740 | ||||||
UNITED STATES | |||||||||||
Total Operating Revenue | 1,751,556 | 1,504,926 | 1,402,023 | ||||||||
Long-lived Assets | 518,717 | 459,021 | 518,717 | 459,021 | 303,520 | ||||||
MEXICO | |||||||||||
Total Operating Revenue | 53,359 | 50,459 | 49,182 | ||||||||
Long-lived Assets | $ 4,884 | $ 4,884 | $ 6,220 |
Note 19 - Quarterly Financial_3
Note 19 - Quarterly Financial Data (Unaudited) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Equity Method Investment, Other than Temporary Impairment | $ 1,800 | $ 1,804 | ||
Discontinued Operations, Held-for-sale [Member] | Assets of a Business [Member] | ||||
Impairment of Long-Lived Assets to be Disposed of | $ 10,700 |
Note 19 - Quarterly Financial_4
Note 19 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Operating revenues | $ 469,222 | $ 460,227 | $ 449,758 | $ 425,708 | $ 431,233 | $ 390,126 | $ 370,350 | $ 363,676 | $ 1,804,915 | $ 1,555,385 | $ 1,451,205 | ||||
Operating income(1) | 21,142 | [1] | 22,892 | [1] | 20,018 | [1] | 14,854 | [1] | 12,457 | 11,534 | 2,689 | 1,928 | 78,906 | 28,608 | 27,731 |
Net income(1) (2) | $ 6,996 | [1],[2] | $ 16,129 | [1],[2] | $ 615 | [1],[2] | $ 1,159 | [1],[2] | $ 9,499 | $ (675) | $ (8,452) | $ (4,432) | $ 24,899 | $ (4,060) | $ (16,524) |
Basic earnings per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.84 | $ (0.64) | $ (2.59) | ||||
Diluted earnings per share (in dollars per share) | $ 0.14 | $ 0.33 | $ 0.04 | $ 0.18 | $ 1.49 | $ (0.11) | $ (1.32) | $ (0.69) | $ 0.83 | $ (0.64) | $ (2.59) | ||||
[1] | Fourth quarter 2018 results include an impairment charge of $10.7 million related to assets of business held for sale. | ||||||||||||||
[2] | Fourth quarter 2018 results include an impairment charge of $1.8 million related to equity method investments. |