Covenant Logistics (CVLG) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Document Information [Line Items]
Entity Registrant Name	COVENANT TRANSPORTATION GROUP INC
Entity Central Index Key	928,658
Trading Symbol	cvti
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		15,940,547
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		2,350,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 8,277	$ 7,750
Accounts receivable, net of allowance of $1,471 in 2017 and $1,345 in 2016	92,037	96,636
Drivers' advances and other receivables, net of allowance of $512 in 2017 and $519 in 2016	14,947	8,757
Inventory and supplies	4,049	3,980
Prepaid expenses	9,044	10,889
Assets held for sale	2,214	2,695
Income taxes receivable	17,634	4,256
Other short-term assets	1,008
Total current assets	149,210	134,963
Property and equipment, at cost	662,423	631,076
Less: accumulated depreciation and amortization	(186,401)	(165,605)
Net property and equipment	476,022	465,471
Other assets, net	25,057	20,104
Total assets	650,289	620,538
Current liabilities:
Checks outstanding in excess of bank balances	1,514	189
Accounts payable	12,374	13,032
Accrued expenses	27,863	26,607
Current maturities of long-term debt	28,775	24,947
Current portion of capital lease obligations	2,941	2,441
Current portion of insurance and claims accrual	14,681	17,177
Other short-term liabilities	1,718	3,388
Total current liabilities	89,866	87,781
Long-term debt	165,592	168,676
Long-term portion of capital lease obligations	22,525	19,761
Insurance and claims accrual	24,199	20,866
Deferred income taxes	101,440	84,157
Other long-term liabilities	2,275	2,883
Total liabilities	405,897	384,124
Commitments and contingent liabilities
Stockholders' equity:
Additional paid-in-capital	137,467	137,912
Treasury stock at cost; no shares as of September 30, 2017 and 23,656 shares as of December 31, 2016		(1,084)
Accumulated other comprehensive loss	(1,442)	(2,640)
Retained earnings	108,173	102,032
Total stockholders' equity	244,392	236,414
Total liabilities and stockholders' equity	650,289	620,538
Common Class A [Member]
Stockholders' equity:
Common stock	170	170
Common Class B [Member]
Stockholders' equity:
Common stock	$ 24	$ 24

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable allowance	$ 1,471	$ 1,345
Drivers' advances and other receivables, allowance	$ 512	$ 519
Treasury stock, shares (in shares)		23,656
Common Class A [Member]
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	20,000,000	20,000,000
Common stock - shares issued (in shares)	15,940,547	15,922,879
Common stock - shares outstanding (in shares)	15,940,547	15,899,223
Common Class B [Member]
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	5,000,000	5,000,000
Common stock - shares issued (in shares)	2,350,000	2,350,000
Common stock - shares outstanding (in shares)	2,350,000	2,350,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue:
Freight revenue	$ 159,500	$ 148,229	$ 445,212	$ 437,344
Fuel surcharge revenue	19,131	16,271	56,489	42,329
Total revenue	178,631	164,500	501,701	479,673
Operating expenses:
Salaries, wages, and related expenses	60,732	57,972	178,639	171,666
Fuel expense	25,998	26,436	76,310	75,989
Operations and maintenance	13,046	11,359	37,504	34,227
Revenue equipment rentals and purchased transportation	36,361	27,831	90,719	80,308
Operating taxes and licenses	2,364	2,815	7,197	8,404
Insurance and claims	7,681	8,362	24,313	21,985
Communications and utilities	1,747	1,546	5,081	4,488
General supplies and expenses	3,729	3,405	10,919	10,193
Depreciation and amortization, including gains and losses on disposition of property and equipment	17,932	19,328	57,707	52,232
Total operating expenses	169,590	159,054	488,389	459,492
Operating income	9,041	5,446	13,312	20,181
Interest expense, net	2,174	1,959	6,216	6,210
Income from equity method investment	(750)	(450)	(2,575)	(2,450)
Income before income taxes	7,617	3,937	9,671	16,421
Income tax expense	2,985	1,068	3,530	5,568
Net income	$ 4,632	$ 2,869	$ 6,141	$ 10,853
Income per share:
Basic net income per share (in dollars per share)	$ 0.25	$ 0.16	$ 0.34	$ 0.60
Diluted net income per share (in dollars per share)	$ 0.25	$ 0.16	$ 0.33	$ 0.59
Basic weighted average shares outstanding (in shares)	18,288	18,194	18,275	18,177
Diluted weighted average shares outstanding (in shares)	18,404	18,287	18,366	18,258

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income	$ 4,632	$ 2,869	$ 6,141	$ 10,853
Other comprehensive income:
Unrealized gain (loss) on effective portion of cash flow hedges, net of tax of $1,050 and $796 in 2017 and $72 and $779 in 2016, respectively	1,678	(115)	(1,271)	1,244
Reclassification of cash flow hedge losses into statement of operations, net of tax of $424 and $1,546 in 2017 and $1,596 and $5,215 in 2016, respectively	677	2,549	2,469	8,331
Total other comprehensive income	2,355	2,434	1,198	9,575
Comprehensive income	$ 6,987	$ 5,303	$ 7,339	$ 20,428

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Unrealized loss on effective portion of cash flow hedges, tax	$ 1,050	$ 72	$ 796	$ 779
Reclassification of cash flow hedge loss into statement of operations, tax	$ 424	$ 1,596	$ 1,546	$ 5,215

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2016	$ 170	$ 24	$ 137,912	$ (1,084)	$ (2,640)	$ 102,032	$ 236,414
Net income						6,141	6,141
Other comprehensive income					1,198		1,198
Stock-based employee compensation expense			646				646
Issuance of restricted shares			(1,091)	1,084			(7)
Balance at Sep. 30, 2017	$ 170	$ 24	$ 137,467		$ (1,442)	$ 108,173	$ 244,392

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 6,141	$ 10,853
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for losses on accounts receivable	241	(531)
Reversal of gain on sales to equity method investee	(153)	(169)
Depreciation and amortization	54,489	52,142
Amortization of deferred financing fees	206	224
Deferred income tax expense (benefit)	16,437	(5,505)
Income tax benefit arising from restricted share vesting	96	560
Stock-based compensation expense	896	1,114
Income from equity method investment	(2,575)	(2,450)
Return on investment in affiliated company	1,960	1,470
Loss on disposition of property and equipment	3,217	90
Changes in operating assets and liabilities:
Receivables and advances	(19,975)	43,743
Prepaid expenses and other assets	1,439	(1,028)
Inventory and supplies	(69)	(108)
Insurance and claims accrual	837	(4,276)
Accounts payable and accrued expenses	(400)	(14,040)
Net cash flows provided by operating activities	62,787	82,089
Cash flows from investing activities:
Acquisition of property and equipment	(89,917)	(100,920)
Proceeds from disposition of property and equipment	32,739	54,959
Net cash flows used in investing activities	(57,178)	(45,961)
Cash flows from financing activities:
Change in checks outstanding in excess of bank balances	1,325	(3,399)
Proceeds from issuance of notes payable	110,762	62,969
Proceeds from the exercise of stock options		32
Repayments of notes payable	(101,717)	(103,627)
Repayments of capital lease obligations	(6,689)	(3,711)
Proceeds under revolving credit facility	930,161	762,338
Repayments under revolving credit facility	(938,667)	(749,504)
Payment of minimum tax withholdings on stock compensation	(257)	(581)
Debt refinancing costs		(108)
Net cash used in financing activities	(5,082)	(35,591)
Net change in cash and cash equivalents	527	537
Cash and cash equivalents at beginning of period	7,750	4,490
Cash and cash equivalents at end of period	8,277	5,027
Supplemental disclosure of cash flow information:
Equipment purchased under capital leases	$ 9,953	$ 4,562

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements include the accounts of Covenant Transportation Group, Inc., a Nevada holding company, and its wholly owned subsidiaries. References in this report to "we," "us," "our," the "Company," and similar expressions refer to Covenant Transportation Group, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 10 X 1933. Certain information and footnote disclosures have been condensed or omitted pursuant to such rules and regulations. The December 31, 2016, three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016. not Recent Accounting Pronouncements Accounting Standards not adopted In April 2015, 2015 14, 2014 09. five January 1, 2018, January 1, 2017. We anticipate that the new standard will require us to recognize revenue from loads proportionally as the transportation service is performed as opposed to recognizing revenue upon the completion of the load, which is our current practice. We expect our recognition of revenue under the new standard will approximate our recognition of revenue under the current standards, as there will generally be a consistent amount of freight in process at the beginning and end of the period; however, seasonality and the day on which the period ends may first 2018. $1.0 2017, In February 2016, 2016 02, liability for all leases. Lessees are permitted to make an accounting policy election to not twelve January 1, 2019, Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation for book purposes is determined using the straight-line method over the estimated useful lives of the assets, while depreciation for tax purposes is generally recorded using an accelerated method. Depreciation of revenue equipment is our largest item of depreciation. We have historically depreciated new tractors (excluding day cabs) over five 15% seven ten 25% 2016 not July 1, 2016 not

Note 2 - Income Per Share

Note 2 - Income Per Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2. Income Per Share Basic income per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted income per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. There were no three nine September 30, 2017 2016, no September 30, 2017. The following table sets forth for the periods indicated the calculation of net income per share included in the condensed consolidated statements of operations: (in thousands except per share data) Three Months ended September 30 , Nine Month s ended September 30 , 2017 2016 2017 2016 Numerator: Net income $ 4,632 $ 2,869 $ 6,141 $ 10,853 Denominator: Denominator for basic earnings per share – weighted-average shares 18,288 18,194 18,275 18,177 Effect of dilutive securities: Equivalent shares issuable upon conversion of unvested restricted stock 116 93 91 81 Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions 18,404 18,287 18,366 18,258 Basic income per share: $ 0.25 $ 0.16 $ 0.34 $ 0.60 Diluted income per share: $ 0.25 $ 0.16 $ 0.33 $ 0.59

Note 3 - Segment Information

Note 3 - Segment Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 3. Segment Information We have one The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our 2016 10 "Unallocated Corporate Overhead" includes expenses that are incidental to our activities and are not one The following table summarizes our segment information: (in thousands) Three months ended September 30 , Nine month s ended September 30 , 2017 2016 2017 2016 Total Revenues: Truckload $ 153,066 $ 148,603 $ 446,322 $ 436,055 Other 25,565 15,897 55,379 43,618 Total Revenues $ 178,631 $ 164,500 $ 501,701 $ 479,673 Operating Income: Truckload $ 11,165 $ 5,508 $ 20,054 $ 22,558 Other 2,468 1,829 5,500 5,144 Unallocated Corporate Overhead (4,592 ) (1,891 ) (12,242 ) (7,521 ) Total Operating Income $ 9,041 $ 5,446 $ 13,312 $ 20,181

Note 4 - Income Taxes

Note 4 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 4. Income Taxes Income tax expense varies from the amount computed by applying the federal corporate income tax rate of 35% Drivers who meet the requirements and elect to receive per diem generally receive non-taxable per diem pay in lieu of a portion of their taxable wages. This per diem program increases our drivers' net pay per mile, after taxes, while decreasing gross pay, before taxes. As a result, salaries, wages, and related expenses are slightly lower and our effective income tax rate is higher than the statutory rate. Generally, as pre-tax income or loss increases, the impact of the driver per diem program on our effective tax rate decreases, because aggregate per diem pay becomes smaller in relation to pre-tax income or loss, while in periods where earnings are at or near breakeven the impact of the per diem program on our effective tax rate is significant. Due to the partially nondeductible effect of per diem pay, our tax rate will fluctuate in future periods based on fluctuations in earnings. Our liability recorded for uncertain tax positions as of September 30, 2017 $0.1 December 31, 2016. The net deferred tax liability of $ 101.4 not may September 30, 2017, $1.2 may

Note 5 - Fair Value of Financia

Note 5 - Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 5. Fair Value of Financial Instruments Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Accordingly, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. The fair value of the hedge derivative liability was determined based on quotes from the counterparty which were verified by comparing them to the exchange on which the related futures are traded, adjusted for counterparty credit risk. The fair value of our interest rate swap agreement s is determined using the market-standard methodology of netting the discounted future fixed-cash payments and the discounted expected variable-cash receipts. The variable-cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. These analyses reflect the contractual terms of the swap, including the period to maturity, and use observable market-based inputs, including interest rate curves and implied volatilities. The fair value calculation also includes an amount for risk of non-performance of our counterparties using "significant unobservable inputs" such as estimates of current credit spreads to evaluate the likelihood of default, which we have determined to be insignificant to the overall fair value of our interest rate swap agreements. A three ● Level 1. ● Level 2. ● Level 3. no Derivatives Measured at Fair Value on a Recurring Basis (in thousands) Hedge derivative s September 30 , 2017 December 31, 2016 Net Fair Value of Derivatives (1) $ (2,344 ) $ (4,293 ) Quoted Prices in Active Markets (Level 1) - - Significant Other Observable Inputs (Level 2) $ (2,344 ) $ (4,293 ) Significant Unobservable Inputs (Level 3) - - ( 1 Includes derivative assets of $48 September 30, 2017 $26 December 31, 2016. Our financial instruments consist primarily of cash and cash equivalents, certificates of deposit, accounts receivable, commodity contracts, accounts payable, debt, and interest rate swaps. The carrying amount of cash and cash equivalents, certificates of deposit, accounts receivable, accounts payable, and current debt approximates their fair value because of the short-term maturity of these instruments. Included in accounts receivable is $26.9 $25.8 September 30, 2017 December 31, 2016, $0.2 85% 95% September 30, 2017 December 31, 2016, $0.2 $0.3 30 40 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 September 30, 2017, 6 11,

Note 6 - Derivative Instruments

Note 6 - Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 6. Derivative Instruments We engage in activities that expose us to market risks, including the effects of changes in fuel prices and in interest rates. Financial expos ures are evaluated as an integral part of our risk management program, which seeks, from time-to-time, to reduce the potentially adverse effects that the volatility of fuel markets and interest rate risk may In an effort to se ek to reduce the variability of the ultimate cash flows associated with fluctuations in diesel fuel prices, we periodically enter into various derivative instruments, including forward futures swap contracts (which we refer to as "fuel hedge contracts"). Under these contracts, we pay a fixed rate per gallon of ultra-low sulfur diesel ("ULSD") and receive the monthly average price of Gulf Coast ULSD. The retrospective and prospective regression analyses provided that changes in the prices of ULSD were deemed to be highly effective based on the relevant authoritative guidance . We do not In August 2015, ith a notional amount of $28.0 7. 4.2% August 1, 2035. 2016 2017, 815, no September 30, 2017, $0.7 $0.1 $0.3 three nine September 30, 2017, September 30, 2017, $0.2 twelve We recognize all derivative instruments at fair value on our condensed consolidated balance sheets. Our derivative instruments are designated as cash flow hedges, thus the effective portion of the gain or loss on the derivatives is reported as a component of accumulated other comprehensive loss and will be reclassified into earnings in the same period during which the hedged transaction affects earnings. The effective portion of the derivative represents the change in fair value of the hedge that offsets the change in fair value of the hedged item. To the extent the change in the fair value of the hedge does not . At September 30, 2017, 3.0 2017 , or approximately 25.1% 2017 7.6 2018, 15.7% 2018 . The fair value of the fuel hedge contracts that were in effect at September 30, 2017, $1.6 third 2017, $1.83 $1.41 2016 $1.52 per gallon to a low of $1.20 Additionally, $ 1.0 $3.7 three nine September 30, 2017 , respectively, related to losses on fuel hedge contracts that expired. Based on the amounts in accumulated other comprehensive loss as of September 30, 2017 , and the expected timing of the purchases of the diesel hedged, we expect to reclassify losses of approximately $0.8 twelve We perform both a prospective and retrospective assessment of the effectiveness of our fuel hedge contracts at inception and quarterly, including assessing the possibility of counterparty default. If we determine that a derivative is no September 30, 2017 , we believe our hedge contracts have been and will continue to be highly effective in offsetting changes in cash flows attributable to the hedged risk. Outstanding financial derivative instruments expose us to credit loss in the event of nonperformance by the counterpa rties to the agreements. We do not , and obtain references as we deem necessary.

Note 7 - Debt

Note 7 - Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 7. Debt Current and long-term debt consisted of the following at September 30, 2017 December 31, 2016: (in thousands) September 30 , 2017 December 31, 2016 Current Long-Term Current Long-Term Borrowings under Credit Facility $ 3,678 $ - $ - $ 12,185 Revenue equipment installment notes with finance companies; we ighted average interest rate of 3.6% and 3.3% at September 30, 2017 and December 31, 2016, respectively, due in monthly installments with final maturities at various dates ranging from October 2017 to July 2023, secured by related revenue equipment 24,366 140,577 23,986 127,840 Real estate notes; interest rate of 3.0% at September 30, 2017 due in monthly installments with a fixed maturity at August 2035 and weighted average interest rate of 2.4% at December 31, 2016 due in monthly installments with fixed maturities at December 2018 and August 2035, secured by related real estate 994 25,065 1,224 28,907 Deferred loan costs (263 ) (50 ) (263 ) (256 ) Total debt 28,775 165,592 24,947 168,676 Principal portion of capital lease obligations, secured by related revenue equipment 2,941 22,525 2,441 19,761 Total debt and capital lease obligations $ 31,716 $ 188,117 $ 27,388 $ 188,437 We and substantially all of our subsidiaries are parties to a Third Amended and Restated Credit Facility (the "Credit Facility") with Bank of America, N.A., as agent (the "Agent") and JPMorgan Chase Bank, N.A. (together with the Agent, the "Lenders"). The Credit Facility is a $95.0 no $50.0 lion subject to Lender acceptance of the additional funding commitment. The Credit Facility includes, within our $95.0 $95.0 $10.0 10% September 2018. Borrowings under the Credit Facility are classified as either "base rate loans" or "LIBOR loans." Base rate loans accrue interest at a base rate equal to the greater of the Agent's prime rate, the federal funds rate plus 0.5%, 1.0%, 0.5% 1.0%; 1.5% 2.0% . The applicable rates are adjusted quarterly based on average pricing availability. The unused line fee is the product of 0.25% Borrowings under the Credit Facility are subject to a borrowing base limited to the lesser of (A) $95.0 85% 85% 95% 35% $25.0 65% We had $3.7 September 30, 2017, $32.9 $55.6 September 30, 2017, 4.8% $0.7 2.8% $3.0 . Based on availability as of September 30, 2017 December 31, 2016, no 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 nd the Lenders' commitments may Capital lease obligations are utilized to finance a por tion of our revenue equipment and are entered into with certain finance companies who are not September 30, 2017 October 2017 September 2023 Pricing for the revenue equipment installment notes is quoted by the respective financial affiliates of our primary revenue equipment suppliers and other lenders at the funding of each group of equipment acquired and include fixed annual rates for new equipment under retail installment contracts. The notes included in the funding are due in monthly installments with final maturities at various dates ranging from October 2017 July 2023. not , except certain notes totaling $130.0 $1.6 September 30, 2017 , are cross-defaulted with the Credit Facility. Concurrent with entering into certain of our revenue equipment installment notes, we entered into interest rate swaps to effectively fix the interest rates. See Note 6 2017, In August 2015, $28.0 te note with a third 4.2%. 6

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 8 . Stock -Based Compensation Our 2006 February 2013, Compensation Committee re-approved, subject to stockholder re-approval, the material terms of the performance-based goals under the Incentive Plan so that certain incentive awards granted thereunder would continue to qualify as exempt "performance-based compensation" under Internal Revenue Code Section 162 2013 May 29, 2013. The Incentive Plan permits annual awards of shares of our Class A common stock to executives, other key employees, consultants, non-employee directors, and other eligible participants under various types of options, restricted stock awards, or other equity instruments. At September 30, 2017, 179,065 1,550,000 No may 200,000 No may March 31, 2023. Included in salaries, wages, and related expenses within the condensed consolidated statements of operations is $0.3 three September 30, 2017 2016, $0.6 $0.9 nine September 30, 2017 2016, 2017 2016 , given no $0.3 $0.2 three - and nine September 30, 2017 2016 , respectively, as this amount relates to the issuance of restricted stock to non-employee directors. The Incentive Plan allows participants to pay the federal and state minimum statutory tax withholding requirements related to awards that vest or allows participant s to deliver to us shares of Class A common stock having a fair market value equal to the minimum amount of such required withholding taxes. To satisfy withholding requirements for shares that vested, through September 30, 2017, 12,921 $19.91 2017, $0.3

Note 9 - Equity Method Investme

Note 9 - Equity Method Investment	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Equity Method Investment [Text Block]	Note 9 . Equity Method Investment We own a minority investment in Transport Enterprise Leasing, LLC ("TEL"). TEL is a tractor and trailer equipment leasing company and used equipment reseller. We have not no In May 2016, We sold $0.1 $0.4 nine September 30, 2017 2016, $0.5 $1.3 $0.2 nine September 30, 2017 2016, 49% third $0.4 September 30, 2017, September 30, 2017 December 31, 2016, $7.8 $3.7 We have accounted for our investment in TEL using the equity method of accounting and thus our financial results include our proportionate share of TEL 's 2017 September 30, 2017, $2.6 September 30, 2017 $2.0 $19.3 $18.5 September 30, 2017 December 31, 2016, See TEL ’s summarized financial information below: (in thousands) As of September 30, 2017 As of December 31, 2016 Current Assets $ 20,852 $ 14,320 Non-current Assets 171,801 146,081 Current Liabilities 14,216 34,766 Non-current Liabilities 147,819 96,140 Total Equity $ 30,618 $ 29,495 For the three months ended September 30 , 2017 For the three months ended September 30 , 2016 For the nine months ended September 30 , 2017 For the nine months ended September 30 , 2016 Revenue $ 18,299 $ 29,359 $ 64,543 $ 72,559 Operating Expenses 15,439 27,096 55,753 64,301 Operating Income 2,860 2,263 8,790 8,258 Net Income $ 1,499 $ 1,165 $ 5,188 $ 4,977

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 10. Commitments and Contingencies From time-to-time, we are a party to ordinary, routine litigation arising in the ordinary course of business, most of which involves claims for personal injury and property damage incurred in connection with the transportation of freight. We maintain ins urance to cover liabilities arising from the transportation of freight for amounts in excess of certain self-insured retentions. In management's opinion, our potential exposure under pending legal proceedings is adequately provided for in the accompanying condensed consolidated financial statements. On May 8, 2017, SRT") subsidiary relating to a cargo claim incurred in 2008. 2014, 2015. $0.9 first 2017 $7.2 the District Court’s decision on damages to the Sixth Circuit. Our SRT subsidiary is a defendant in a lawsuit filed on December 16, 2016 four competition as well as various state claims. The case was removed from state court in February, 2017 July, 2017, Based on our present knowledge of the facts and, in certain cases, advice of outside counsel, management believes the resolution of open claims and pending litigation, taking into account existing reserves, is not We had $ 32.9 $27.2 September 30 , 2017 December 31, 2016,

Note 11 - Other Comprehensive I

Note 11 - Other Comprehensive Income ("OCI")	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 1 1 . O ther Comprehensive Income ( " OC I " ) OC I is comprised of net income and other adjustments, including changes in the fair value of certain derivative financial instruments qualifying as cash flow hedges. The following table summarizes the change in the components of our OCI balance for the periods presented (in thousands; presented net of tax): Details about OCI Components Amount Reclassified from OC I for the three months ended September 30 , 2017 Amount Reclassified from OCI for the nine month s ended September 30 , 2017 Affected Line Item in the Statement of Operations Losses on cash flow hedges Commodity derivative contracts $ 1,003 $ 3,668 Fuel expense (386 ) (1,412 ) Income tax benefit $ 617 $ 2,256 Net of tax Interest rate swap contract $ 98 $ 347 Interest expense (38 ) (134 ) Income tax benefit $ 60 $ 213 Net of tax

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The condensed consolidated financial statements include the accounts of Covenant Transportation Group, Inc., a Nevada holding company, and its wholly owned subsidiaries. References in this report to "we," "us," "our," the "Company," and similar expressions refer to Covenant Transportation Group, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 10 X 1933. Certain information and footnote disclosures have been condensed or omitted pursuant to such rules and regulations. The December 31, 2016, three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016. not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Accounting Standards not adopted In April 2015, 2015 14, 2014 09. five January 1, 2018, January 1, 2017. We anticipate that the new standard will require us to recognize revenue from loads proportionally as the transportation service is performed as opposed to recognizing revenue upon the completion of the load, which is our current practice. We expect our recognition of revenue under the new standard will approximate our recognition of revenue under the current standards, as there will generally be a consistent amount of freight in process at the beginning and end of the period; however, seasonality and the day on which the period ends may first 2018. $1.0 2017, In February 2016, 2016 02, liability for all leases. Lessees are permitted to make an accounting policy election to not twelve January 1, 2019,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation for book purposes is determined using the straight-line method over the estimated useful lives of the assets, while depreciation for tax purposes is generally recorded using an accelerated method. Depreciation of revenue equipment is our largest item of depreciation. We have historically depreciated new tractors (excluding day cabs) over five 15% seven ten 25% 2016 not July 1, 2016 not

Note 2 - Income Per Share (Tabl

Note 2 - Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	(in thousands except per share data) Three Months ended September 30 , Nine Month s ended September 30 , 2017 2016 2017 2016 Numerator: Net income $ 4,632 $ 2,869 $ 6,141 $ 10,853 Denominator: Denominator for basic earnings per share – weighted-average shares 18,288 18,194 18,275 18,177 Effect of dilutive securities: Equivalent shares issuable upon conversion of unvested restricted stock 116 93 91 81 Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions 18,404 18,287 18,366 18,258 Basic income per share: $ 0.25 $ 0.16 $ 0.34 $ 0.60 Diluted income per share: $ 0.25 $ 0.16 $ 0.33 $ 0.59

Note 3 - Segment Information (T

Note 3 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(in thousands) Three months ended September 30 , Nine month s ended September 30 , 2017 2016 2017 2016 Total Revenues: Truckload $ 153,066 $ 148,603 $ 446,322 $ 436,055 Other 25,565 15,897 55,379 43,618 Total Revenues $ 178,631 $ 164,500 $ 501,701 $ 479,673 Operating Income: Truckload $ 11,165 $ 5,508 $ 20,054 $ 22,558 Other 2,468 1,829 5,500 5,144 Unallocated Corporate Overhead (4,592 ) (1,891 ) (12,242 ) (7,521 ) Total Operating Income $ 9,041 $ 5,446 $ 13,312 $ 20,181

Note 5 - Fair Value of Financ23

Note 5 - Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	(in thousands) Hedge derivative s September 30 , 2017 December 31, 2016 Net Fair Value of Derivatives (1) $ (2,344 ) $ (4,293 ) Quoted Prices in Active Markets (Level 1) - - Significant Other Observable Inputs (Level 2) $ (2,344 ) $ (4,293 ) Significant Unobservable Inputs (Level 3) - -

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	(in thousands) September 30 , 2017 December 31, 2016 Current Long-Term Current Long-Term Borrowings under Credit Facility $ 3,678 $ - $ - $ 12,185 Revenue equipment installment notes with finance companies; we ighted average interest rate of 3.6% and 3.3% at September 30, 2017 and December 31, 2016, respectively, due in monthly installments with final maturities at various dates ranging from October 2017 to July 2023, secured by related revenue equipment 24,366 140,577 23,986 127,840 Real estate notes; interest rate of 3.0% at September 30, 2017 due in monthly installments with a fixed maturity at August 2035 and weighted average interest rate of 2.4% at December 31, 2016 due in monthly installments with fixed maturities at December 2018 and August 2035, secured by related real estate 994 25,065 1,224 28,907 Deferred loan costs (263 ) (50 ) (263 ) (256 ) Total debt 28,775 165,592 24,947 168,676 Principal portion of capital lease obligations, secured by related revenue equipment 2,941 22,525 2,441 19,761 Total debt and capital lease obligations $ 31,716 $ 188,117 $ 27,388 $ 188,437

Note 9 - Equity Method Invest25

Note 9 - Equity Method Investment (Tables)	9 Months Ended
	Sep. 30, 2017
Balance Sheet [Member]
Notes Tables
Equity Method Investments [Table Text Block]	(in thousands) As of September 30, 2017 As of December 31, 2016 Current Assets $ 20,852 $ 14,320 Non-current Assets 171,801 146,081 Current Liabilities 14,216 34,766 Non-current Liabilities 147,819 96,140 Total Equity $ 30,618 $ 29,495
Income Statement [Member]
Notes Tables
Equity Method Investments [Table Text Block]	For the three months ended September 30 , 2017 For the three months ended September 30 , 2016 For the nine months ended September 30 , 2017 For the nine months ended September 30 , 2016 Revenue $ 18,299 $ 29,359 $ 64,543 $ 72,559 Operating Expenses 15,439 27,096 55,753 64,301 Operating Income 2,860 2,263 8,790 8,258 Net Income $ 1,499 $ 1,165 $ 5,188 $ 4,977

Note 11 - Other Comprehensive26

Note 11 - Other Comprehensive Income ("OCI") (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Details about OCI Components Amount Reclassified from OC I for the three months ended September 30 , 2017 Amount Reclassified from OCI for the nine month s ended September 30 , 2017 Affected Line Item in the Statement of Operations Losses on cash flow hedges Commodity derivative contracts $ 1,003 $ 3,668 Fuel expense (386 ) (1,412 ) Income tax benefit $ 617 $ 2,256 Net of tax Interest rate swap contract $ 98 $ 347 Interest expense (38 ) (134 ) Income tax benefit $ 60 $ 213 Net of tax

Note 1 - Significant Accounti27

Note 1 - Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 30, 2017
Tractors [Member]
Property, Plant and Equipment, Useful Life		5 years
Property, Plant and Equipment, Salvage Value, Percentage		15.00%
Refrigerated Trailers [Member]
Property, Plant and Equipment, Useful Life		7 years
Dry Van Trailers [Member]
Property, Plant and Equipment, Useful Life		10 years
Property, Plant and Equipment, Salvage Value, Percentage		25.00%
Scenario, Forecast [Member] | Accounting Standards Update 2015-14 [Member]
Cumulative Effect on Retained Earnings, Net of Tax	$ 1

Note 2 - Income Per Share (Deta

Note 2 - Income Per Share (Details Textual) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	0		0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

Note 2 - Income Per Share - Cal

Note 2 - Income Per Share - Calculation of Net Income (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income	$ 4,632	$ 2,869	$ 6,141	$ 10,853
Denominator:
Basic weighted average shares outstanding (in shares)	18,288	18,194	18,275	18,177
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted stock (in shares)	116	93	91	81
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions (in shares)	18,404	18,287	18,366	18,258
Basic net income per share (in dollars per share)	$ 0.25	$ 0.16	$ 0.34	$ 0.60
Diluted net income per share (in dollars per share)	$ 0.25	$ 0.16	$ 0.33	$ 0.59

Note 3 - Segment Information (D

Note 3 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2017
Number of Reportable Segments	1

Note 3 - Segment Information -

Note 3 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 178,631	$ 164,500	$ 501,701	$ 479,673
Operating income (loss)	9,041	5,446	13,312	20,181
Operating Segments [Member] | Truckload [Member]
Revenues	153,066	148,603	446,322	436,055
Operating income (loss)	11,165	5,508	20,054	22,558
Operating Segments [Member] | Other Segments [Member]
Revenues	25,565	15,897	55,379	43,618
Operating income (loss)	2,468	1,829	5,500	5,144
Corporate, Non-Segment [Member]
Operating income (loss)	$ (4,592)	$ (1,891)	$ (12,242)	$ (7,521)

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Unrecognized Tax Benefits, Period Increase (Decrease)	$ (0.1)
Deferred Tax Liabilities, Net	101.4
Deferred Tax Assets, Valuation Allowance	$ 1.2

Note 5 - Fair Value of Financ33

Note 5 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Trade Receivables Held-for-sale, Net, Not Part of Disposal Group		$ 26,900	$ 25,800
Allowance for Doubtful Accounts Receivable		200	200
Accounts Payable		$ 200	300
Minimum [Member]
Factoring Receivables, Percentage Advanced		85.00%
Factoring Receivables, Term	30 days
Maximum [Member]
Factoring Receivables, Percentage Advanced		95.00%
Factoring Receivables, Term	40 days
Interest Rate Swap [Member]
Derivative Asset		$ 48	$ 26

Note 5 - Fair Value of Financ34

Note 5 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Fair Value of Derivatives	[1]	$ (2,344)	$ (4,293)
Fair Value, Inputs, Level 1 [Member]
Fair Value of Derivatives
Fair Value, Inputs, Level 2 [Member]
Fair Value of Derivatives		(2,344)	(4,293)
Fair Value, Inputs, Level 3 [Member]
Fair Value of Derivatives
[1]	Includes derivative assets of $46 at June 30, 2017 and $26 at December 31, 2016.

Note 6 - Derivative Instrumen35

Note 6 - Derivative Instruments (Details Textual) gal in Millions, bbl in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)$ / gal	Sep. 30, 2016$ / gal	Sep. 30, 2017USD ($)bblgal	Aug. 31, 2015USD ($)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 1		$ 3.7
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 1.6		1.6
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			0.8
Maximum [Member]
Underlying, Derivative Volume | $ / gal	1.83	1.52
Minimum [Member]
Underlying, Derivative Volume | $ / gal	1.41	1.2
Interest Rate Swap [Member]
Derivative, Notional Amount				$ 28
Derivative, Fixed Interest Rate				4.20%
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 0.7		0.7
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			0.2
Interest Rate Swap [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0.1		$ 0.3
Fuel Hedge Contracts for 2017 Fuel Requirements [Member]
Derivative, Nonmonetary Notional Amount, Volume | bbl			3
Percent of Projected Fuel Requirements			25.10%
Fuel Hedge Contracts for 2018 Requirements [Member]
Derivative, Nonmonetary Notional Amount, Volume | gal			7.6
Percent of Projected Fuel Requirements			15.70%

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Aug. 31, 2015
Line of Credit Facility, Maximum Borrowing Capacity	$ 95,000
Line of Credit Facility, Maximum Increase in Borrowing Capacity	$ 50,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Percent of Eligible Accounts Receivable	85.00%
Percent of Appraised Net Orderly Liquidation, Value of Eligible Revenue Equipment	85.00%
Percent of Net Book Value of Eligible Revenue Equipment	95.00%
Line of Credit Facility, Availability as Percentage of Revolver Commitment	35.00%
Line of Credit Facility, Revolver Commitment, Amount	$ 25,000
Percent of Appraised Fair Market Value of Eligible Real Estate	65.00%
Long-term Line of Credit	$ 3,700
Letters of Credit Outstanding, Amount	32,900	$ 27,200
Line of Credit Facility, Remaining Borrowing Capacity	55,600
Fixed Charge Coverage Requirement		$ 0
Debt, Secured with a Cross Default Feature	130,000
Commodity Contract Asset, Current	$ 1,600
Interest Rate Swap [Member]
Derivative, Fixed Interest Rate			4.20%
Variable Rate Note [Member]
Debt Instrument, Fee Amount			$ 28,000
Variable Rate Note [Member] | Interest Rate Swap [Member]
Derivative, Fixed Interest Rate			4.20%
Federal Funds Rate [Member] | Base Rate Loans [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate (LIBOR) [Member]
Long-term Line of Credit	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	2.80%
Fixed Charge Coverage Requirement	$ 0
London Interbank Offered Rate (LIBOR) [Member] | Base Rate Loans [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Applicable Margin [Member] | Base Rate Loans [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Applicable Margin [Member] | Base Rate Loans [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Applicable Margin [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Applicable Margin [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Base Rate Loans [Member]
Long-term Line of Credit	$ 700
Debt Instrument, Interest Rate, Stated Percentage	4.80%
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 95,000
Swing Line Sub Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000
Percent of Aggregate Commitments under Credit Facility	10.00%

Note 7 - Debt - Current and Lon

Note 7 - Debt - Current and Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Borrowings under Credit Facility	$ 3,678
Borrowings under Credit Facility		12,185
Long-term debt, current	28,775	24,947
Long-term debt, noncurrent	165,592	168,676
Deferred loan costs	(263)	(263)
Deferred loan costs	(50)	(256)
Principal portion of capital lease obligations, secured by related revenue equipment, current	2,941	2,441
Principal portion of capital lease obligations, secured by related revenue equipment, noncurrent	22,525	19,761
Total debt and capital lease obligations, current	31,716	27,388
Total debt and capital lease obligations, noncurrent	188,117	188,437
Revenue Equipment Installment Notes [Member]
Long-term debt, current	24,366	23,986
Long-term debt, noncurrent	140,577	127,840
Real Estate Note [Member]
Long-term debt, current	994	1,224
Long-term debt, noncurrent	$ 25,065	$ 28,907

Note 7 - Debt - Current and L38

Note 7 - Debt - Current and Long-term Debt (Details) (Parentheticals)	Sep. 30, 2017	Dec. 31, 2016
Revenue Equipment Installment Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.60%	3.30%
Real Estate Note [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.00%	2.40%

Note 8 - Stock-based Compensa39

Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	179,065		179,065
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,550,000		1,550,000
Maximum Number of Shares of Class A Common Stock Awarded to any Participant in the Incentive Plan in any Calendar Year	200,000		200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	0
Payments Related to Tax Withholding for Share-based Compensation			$ 257	$ 581
Common Class A [Member]
Shares Paid for Tax Withholding for Share Based Compensation			12,921
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased	$ 19.91		$ 19.91
Payments Related to Tax Withholding for Share-based Compensation			$ 300
Salaries Wages And Related Expenses [Member]
Allocated Share-based Compensation Expense	$ 300	$ 300	$ 600	$ 900
General Supplies and Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	300,000	200,000	300,000	200,000

Note 9 - Equity Method Invest40

Note 9 - Equity Method Investment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Proceeds from Sale of Property, Plant, and Equipment				$ 32,739	$ 54,959
Income (Loss) from Equity Method Investments	$ 750	$ 450		2,575	2,450
Transport Enterprise Leasing LLC [Member]
Proceeds from Sale of Property, Plant, and Equipment				100	400
Revenue from Related Parties				500	1,300
Deferred Gain on Sale of Property	$ 200	$ 200	$ 200	$ 200	$ 200
Equity Method Investment, Ownership Percentage	49.00%	49.00%	49.00%	49.00%	49.00%
Due from Related Parties	$ 7,800		$ 7,800	$ 7,800		$ 3,700
Income (Loss) from Equity Method Investments				2,600
Proceeds from Equity Method Investment, Distribution			2,000
Equity Method Investments	19,300		19,300	19,300		$ 18,500
Transport Enterprise Leasing LLC [Member] | Reduction in TEL Investment [Member]
Deferred Gain on Sale of Property	$ 400		$ 400	$ 400

Note 9 - Equity Method Invest41

Note 9 - Equity Method Investment - TEL's Summarized Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets	$ 20,852	$ 14,320
Non-current Assets	171,801	146,081
Current Liabilities	14,216	34,766
Non-current Liabilities	147,819	96,140
Total Equity	$ 30,618	$ 29,495

Note 9 - Equity Method Invest42

Note 9 - Equity Method Investment - TEL's Summarized Financial Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue	$ 18,299	$ 29,359	$ 64,543	$ 72,559
Operating Expenses	15,439	27,096	55,753	64,301
Operating Income	2,860	2,263	8,790	8,258
Net Income	$ 1,499	$ 1,165	$ 5,188	$ 4,977

Note 10 - Commitments and Con43

Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	May 08, 2017	Dec. 31, 2016
Letters of Credit Outstanding, Amount		$ 32,900		$ 27,200
Cargo Claim [Member] | Judicial Ruling [Member]
Increase (Decrease) in Estimated Litigation Liability	$ 900
Estimated Litigation Liability			$ 7,200

Note 11 - Other Comprehensive44

Note 11 - Other Comprehensive Income ("OCI") - Components of AOCI (Details) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Commodity Contract [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, net of tax	$ 617	$ 2,256
Commodity Contract [Member] | Fuel Expense [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, before tax	1,003	3,668
Commodity Contract [Member] | Income Tax Expense [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, before tax	(386)	(1,412)
Interest Rate Swap [Member] | Interest Expense [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, before tax	98	347
Interest Rate Cap [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, before tax	60	213
Interest Rate Cap [Member] | Income Tax Expense [Member]
Other comprehensive income (loss), reclassification adjustment from AOCI on derivatives, before tax	$ (38)	$ (134)