Covenant Logistics (CVLG) 10-Q 3 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0000928658
Entity Registrant Name	COVENANT LOGISTICS GROUP, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	0-24960
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	88-0320154
Entity Address, Address Line One	400 Birmingham Hwy.
Entity Address, City or Town	Chattanooga
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37419
City Area Code	423
Local Phone Number	821-1212
Title of 12(b) Security	$0.01 Par Value Class A common stock
Trading Symbol	CVLG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,350,000
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,784,214

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 13,734,000	$ 43,591,000
Accounts receivable, net of allowance of $4,408 in 2020 and $1,440 in 2019	89,161,000	81,205,000
Drivers' advances and other receivables, net of allowance of $753 in 2020 and $692 in 2019	18,098,000	8,507,000
Inventory and supplies	3,296,000	4,210,000
Prepaid expenses	6,777,000	11,707,000
Assets held for sale	43,141,000	12,010,000
Income taxes receivable	5,083,000	5,403,000
Other short-term assets	414,000	1,132,000
Current assets of discontinued operations	21,094,000	86,620,000
Total current assets	200,798,000	254,385,000
Property and equipment, at cost	527,715,000	725,383,000
Less: accumulated depreciation and amortization	(140,487,000)	(208,180,000)
Net property and equipment	387,228,000	517,203,000
Goodwill	42,518,000	42,518,000
Other intangibles, net	25,670,000	29,615,000
Other assets, net	67,619,000	37,919,000
Total assets	723,833,000	881,640,000
Current liabilities:
Checks outstanding in excess of bank balances	0	592,000
Accounts payable	21,933,000	19,500,000
Accrued expenses	42,926,000	31,840,000
Current maturities of long-term debt	15,067,000	54,377,000
Current portion of finance lease obligations	5,964,000	7,258,000
Current portion of operating lease obligations	17,478,000	19,460,000
Current portion of insurance and claims accrual	22,895,000	21,800,000
Other short-term liabilities	824,000	185,000
Current liabilities of discontinued operations	20,226,000	6,245,000
Total current liabilities	147,313,000	161,257,000
Long-term debt	89,347,000	200,177,000
Long-term portion of finance lease obligations	13,190,000	26,010,000
Long-term portion of operating lease obligations	25,635,000	40,882,000
Insurance and claims accrual	49,629,000	20,295,000
Deferred income taxes	72,672,000	80,330,000
Other long-term liabilities	11,251,000	2,578,000
Total liabilities	409,037,000	531,529,000
Commitments and contingent liabilities	0	0
Stockholders' equity:
Additional paid-in-capital	142,896,000	141,885,000
Treasury stock at cost; 1,427,704 and no shares as of September 30, 2020 and December 31, 2019, respectively	(17,446,000)	0
Accumulated other comprehensive loss	(2,839,000)	(1,014,000)
Retained earnings	191,988,000	209,043,000
Total stockholders' equity	314,796,000	350,111,000
Total liabilities and stockholders' equity	723,833,000	881,640,000
Common Class A [Member]
Stockholders' equity:
Common stock	173,000	173,000
Common Class B [Member]
Stockholders' equity:
Common stock	$ 24,000	$ 24,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts receivable allowance	$ 4,408	$ 1,440
Driver's advances and other receivables, allowance	$ 753	$ 692
Treasury stock, shares (in shares)	1,427,704	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	16,211,918	16,165,145
Common stock, shares outstanding (in shares)	14,784,214	16,165,145
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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Revenue		$ 210,830	$ 220,459	$ 613,333	$ 654,832
Operating expenses:
Salaries, wages, and related expenses		78,812	83,687	235,964	238,281
Fuel expense		18,061	28,812	59,264	85,858
Operations and maintenance		11,912	14,742	36,956	44,814
Revenue equipment rentals and purchased transportation		58,604	50,428	151,677	146,267
Operating taxes and licenses		2,979	3,170	9,555	9,719
Insurance and claims		13,317	14,050	40,491	35,755
Communications and utilities		1,306	1,790	4,657	5,268
General supplies and expenses		7,673	7,584	27,568	21,493
Depreciation and amortization		13,428	20,817	51,274	61,230
Gain on disposition of property and equipment, net		(2,073)	(751)	(7,048)	(959)
Impairment of long lived property, equipment, and right-of-use assets		0	0	26,569	0
Total operating expenses		204,019	224,329	636,927	647,726
Operating income (loss)		6,811	(3,870)	(23,594)	7,106
Interest expense, net		1,935	2,198	5,917	6,048
Income from equity method investment		(1,176)	(2,138)	(971)	(7,548)
Income (loss) before income taxes		6,052	(3,930)	(28,540)	8,606
Income tax expense (benefit)		1,339	112	(7,000)	3,645
Income (loss) from continuing operations		4,713	(4,042)	(21,540)	4,961
Income from discontinued operations, net of tax		2,788	853	4,485	2,354
Net income (loss)		$ 7,501	$ (3,189)	$ (17,055)	$ 7,315
Basic income (loss) per share:
Income (loss) from continuing operations (in dollars per share)		$ 0.28	$ (0.22)	$ (1.24)	$ 0.27
Income from discontinued operations (in dollars per share)		0.16	0.05	0.26	0.13
Net income (loss)(1) (in dollars per share)	[1]	0.44	(0.17)	(0.98)	0.40
Diluted income (loss) per share:
Income (loss) from continuing operations (in dollars per share)		0.27	(0.22)	(1.24)	0.27
Income from discontinued operations (in dollars per share)		0.16	0.05	0.26	0.13
Net income (loss)(1) (in dollars per share)	[1]	$ 0.43	$ (0.17)	$ (0.98)	$ 0.39
Basic weighted average shares outstanding (in shares)		17,134	18,458	17,435	18,426
Diluted weighted average shares outstanding (in shares)		17,267	18,458	17,435	18,620
Cargo and Freight [Member]
Revenues
Revenue		$ 196,217	$ 197,377	$ 565,362	$ 583,950
Fuel Surcharge [Member]
Revenues
Revenue		$ 14,613	$ 23,082	$ 47,971	$ 70,882
[1]	Sum of the individual amounts may not add due to rounding.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income (loss)	$ 7,501	$ (3,189)	$ (17,055)	$ 7,315
Other comprehensive income (loss):
Unrealized loss on effective portion of cash flow hedges, net of tax of $12 and $821 in 2020 and $226 and $652 in 2019, respectively	(34)	(596)	(2,398)	(1,720)
Reclassification of cash flow hedge losses (gains) into statement of operations, net of tax of ($56) and ($185) in 2020 and ($2) and $5 in 2019, respectively	163	5	541	(14)
Unrealized holding (loss) gain on investments classified as available-for-sale	(4)	26	33	47
Total other comprehensive income (loss)	125	(565)	(1,824)	(1,687)
Comprehensive income (loss)	$ 7,626	$ (3,754)	$ (18,879)	$ 5,628

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Unrealized (loss) gain on effective portion of cash flow hedges, tax	$ 12	$ 821	$ 226	$ 652
Reclassification of cash flow hedge gains (losses) into statement of operations, tax	$ (56)	$ (185)	$ (2)	$ 5

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 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
Balances at Dec. 31, 2018	$ 171	$ 24	$ 142,177	$ 0	$ 204	$ 200,566	$ 343,142
Net income (loss)	0	0	0	0	0	4,433	4,433
Other comprehensive loss	0	0	0	0	(432)	0	(432)
Stock-based employee compensation expense	0	0	1,262	0	0	0	1,262
Issuance of restricted shares, net	1	0	(669)	0	0	0	(668)
Balances at Mar. 31, 2019	172	24	142,770	0	(228)	204,999	347,737
Balances at Dec. 31, 2018	171	24	142,177	0	204	200,566	343,142
Net income (loss)							7,315
Other comprehensive loss							(1,687)
Balances at Sep. 30, 2019	172	24	141,840	0	(1,483)	207,881	348,434
Balances at Mar. 31, 2019	172	24	142,770	0	(228)	204,999	347,737
Net income (loss)	0	0	0	0	0	6,071	6,071
Other comprehensive loss	0	0	0	0	(690)	0	(690)
Issuance of restricted shares, net	0	0	0	0	0	0	0
Stock-based employee compensation expense reversal	0	0	(1,433)	0	0	0	(1,433)
Balances at Jun. 30, 2019	172	24	141,337	0	(918)	211,070	351,685
Net income (loss)	0	0	0	0	0	(3,189)	(3,189)
Other comprehensive loss	0	0	0	0	(565)	0	(565)
Stock-based employee compensation expense	0	0	597	0	0	0	597
Issuance of restricted shares, net	0	0	(94)	0	0	0	(94)
Balances at Sep. 30, 2019	172	24	141,840	0	(1,483)	207,881	348,434
Balances at Dec. 31, 2019	173	24	141,885	0	(1,014)	209,043	350,111
Net income (loss)	0	0	0	0	0	(2,213)	(2,213)
Other comprehensive loss	0	0	0	0	(2,350)	0	(2,350)
Share repurchase	0	0	0	(17,515)	0	0	(17,515)
Stock-based employee compensation expense	0	0	466	0	0	0	466
Issuance of restricted shares, net	0	0	(6)	0	0	0	(6)
Share repurchase	0	0	0	17,515	0	0	17,515
Balances at Mar. 31, 2020	173	24	142,345	(17,515)	(3,364)	206,830	328,493
Balances at Dec. 31, 2019	173	24	141,885	0	(1,014)	209,043	350,111
Net income (loss)							(17,055)
Other comprehensive loss							(1,824)
Balances at Sep. 30, 2020	173	24	142,896	(17,446)	(2,839)	191,988	314,796
Balances at Mar. 31, 2020	173	24	142,345	(17,515)	(3,364)	206,830	328,493
Net income (loss)	0	0	0	0	0	(22,343)	(22,343)
Other comprehensive loss	0	0	0	0	400	0	400
Share repurchase	0	0	0	(29)	0	0	(29)
Stock-based employee compensation expense	0	0	355	0	0	0	355
Issuance of restricted shares, net	0	0	(43)	40	0	0	(3)
Share repurchase	0	0	0	29	0	0	29
Balances at Jun. 30, 2020	173	24	142,657	(17,446)	(2,964)	184,487	306,931
Net income (loss)	0	0	0		0	7,501	7,501
Other comprehensive loss	0	0	0		125	0	125
Stock-based employee compensation expense	0	0	298		0	0	298
Issuance of restricted shares, net	0	0	(59)		0	0	(59)
Balances at Sep. 30, 2020	$ 173	$ 24	$ 142,896	$ (17,446)	$ (2,839)	$ 191,988	$ 314,796

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (17,055)	$ 7,315
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Provision for accounts receivable	3,211	13
Reversal of gain on sales to equity method investee	(77)	(7)
Depreciation and amortization	51,281	61,250
Impairment of property and equipment	26,569	0
Amortization of deferred financing fees	154	110
Deferred income tax (benefit) expense	(7,138)	4,632
Income tax benefit arising from restricted share vesting and stock options exercised	81	4
Stock-based compensation expense	1,120	426
Income from equity method investment	(971)	(7,548)
Return on investment in affiliated company	0	1,225
Gain on disposition of property and equipment	(7,019)	(2,137)
Gain on disposition of reportable segment	(3,720)	0
Return on investment in available-for-sale securities	0	(4)
Changes in operating assets and liabilities:
Receivables and advances	(72,413)	(9,099)
Prepaid expenses and other assets	5,756	(977)
Inventory and supplies	914	(111)
Insurance and claims accrual	30,428	539
Accounts payable and accrued expenses	13,836	(15,828)
Net cash flows provided by operating activities	24,957	39,803
Purchase of available-for-sale securities	(319)	(1,380)
Acquisition of property and equipment	(63,614)	(129,403)
Proceeds from disposition of reportable segment	108,375	0
Proceeds from disposition of property and equipment	86,555	31,235
Net cash flows provided by (used in) investing activities	130,997	(99,548)
Cash flows from financing activities:
Change in checks outstanding in excess of bank balances	(592)	(664)
Proceeds from issuance of notes payable	65,457	102,796
Repayments of notes payable	(215,750)	(30,538)
Repayments of finance lease obligations	(17,372)	(4,232)
Proceeds under revolving credit facility	1,091,966	1,257,755
Repayments under revolving credit facility	(1,091,966)	(1,247,942)
Payment of minimum tax withholdings on stock compensation	(68)	(762)
Common stock repurchased	(17,486)	0
Net cash flows (used in) provided by financing activities	(185,811)	76,413
Net change in cash and cash equivalents	(29,857)	16,668
Cash and cash equivalents at beginning of period	43,591	23,127
Cash and cash equivalents at end of period	$ 13,734	$ 39,795

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Significant Accounting Policies Basis of Presentation On July 1, 2020, The condensed consolidated financial statements include the accounts of Covenant Logistics 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 Logistics 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, 2019 nine September 30, 2020 not may December 31, 2020 10 December 31, 2019 not Change in Estimates The Company reviews the estimated useful lives and salvage values of its assets on an ongoing basis, based upon, among other things, our experience with similar assets, conditions in the used revenue equipment market, and prevailing industry practice. During the second 2020, nine September 30, 2020, Risks and Uncertainties In March 2020, 19 19 19, third not Our insurance program includes multi-year policies with specific insurance limits that may April 1, 2018 March 31, 2021), March 31, 2021, may may may On July 8, 2020, September 23, 2020 October 2020, The amended purchase agreement specifically identified approximately $62.0 million accounts within the Portfolio, which related to advances on services that had not first $30.0 To date no not September 30, 2020, 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 over five seven ten not Recent Accounting Pronouncements Accounting Standards not In June 2016, 2016 13, January 1, 2023,

Note 2 - Income (Loss) Per Shar

Note 2 - Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2. Income (Loss) Per Share Basic income (loss) 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 (loss) 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 133,000 and 261,000 shares issuable upon conversion of unvested restricted shares for the three September 30, 2020 September 30, 2019 nine September 30, 2020 September 30, 2019 261,000 216,000 three September 30, 2019 nine September 30, 2020, not September 30, 2020 September 30, 2019 The following table sets forth, for the periods indicated, the calculation of net income (loss) per share included in the condensed consolidated statements of operations: (in thousands except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Numerators: Income (loss) from continuing operations $ 4,713 $ (4,042 ) $ (21,540 ) $ 4,961 Income from discontinued operations 2,788 853 4,485 2,354 Net income (loss) $ 7,501 $ (3,189 ) $ (17,055 ) $ 7,315 Denominator: Denominator for basic income (loss) per share – weighted-average shares 17,134 18,458 17,435 18,426 Effect of dilutive securities: Equivalent shares issuable upon conversion of unvested restricted shares 133 - - 194 Denominator for diluted income (loss) per share adjusted weighted-average shares and assumed conversions 17,267 18,458 17,435 18,620 Basic income (loss) per share: Income (loss) from continuing operations $ 0.28 $ (0.22 ) $ (1.24 ) $ 0.27 Income from discontinued operations 0.16 0.05 0.26 0.13 Net income (loss) (1) $ 0.44 $ (0.17 ) $ (0.98 ) $ 0.40 Diluted income (loss) per share: Income (loss) from continuing operations $ 0.27 $ (0.22 ) $ (1.24 ) $ 0.27 Income from discontinued operations 0.16 0.05 0.26 0.13 Net income (loss) (1) $ 0.43 $ (0.17 ) $ (0.98 ) $ 0.39 ( 1 may not

Note 3 - Discontinued Operation

Note 3 - Discontinued Operations	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 3. Discontinued Operations As of June 30, 2020, July 8, 2020, We have reflected the former Factoring reportable segment as discontinued operations in the condensed consolidated statements of operations for all periods presented. Prior periods have been adjusted to conform to the current presentation. The following table summarizes the results of our discontinued operations for the three nine September 30, 2020 2019 (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total revenue $ 142 $ 2,455 $ 5,397 $ 6,561 Operating expenses (3,601 ) 515 (2,571 ) 1,327 Operating income 3,743 1,940 7,968 5,234 Interest expense - 794 1,948 2,073 Income before income taxes 3,743 1,146 6,020 3,161 Income tax expense 955 293 1,535 807 Net income from discontinued operations, net of tax $ 2,788 $ 853 $ 4,485 $ 2,354 Operating expenses for the three nine September 30, 2020 Interest expense not The following table summarizes the major classes of assets and liabilities included as discontinued operations as of September 30, 2020 December 31, 2019: (in thousands) September 30, 2020 December 31, 2019 Current assets: Accounts receivable, net of allowance of $ 0 408 $ - $ 86,620 Other short-term assets 21,094 - Current assets of discontinued operations 21,094 86,620 Current liabilities: Accounts payable 20,226 6,245 Current liabilities of discontinued operations $ 20,226 $ 6,245 In accordance with the amended purchase agreement, $19.6 million was recorded as an asset and liability for the fair market value of the Triumph stock received that is payable to Triumph. In October 2020, The net cash flows for operating activities related to discontinued operations provided $10.0 nine September 30, 2020 2019, nine September 30, 2020 2019. The following unaudited summary information is presented on a consolidated pro forma basis as if the Factoring assets were sold as of January 1, 2019. (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total revenue $ 210,830 $ 220,459 $ 613,333 $ 654,832 Income (loss) from continuing operations 4,713 (4,042 ) (21,540 ) 4,961 Income (loss) per basic share from continuing operations $ 0.28 $ (0.22 ) $ (1.24 ) $ 0.27 Income (loss) per diluted share from continuing operations $ 0.27 $ (0.22 ) $ (1.24 ) $ 0.27 Refer to Note 1,

Note 4 - Segment Information

Note 4 - Segment Information	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 4. Segment Information Until the second 2020, four 3, June 30, 2020. September 30, 2020, second 2020. Our four ● Expedited: The Expedited segment primarily provides truckload services to customers with high service freight and delivery standards, such as 1,000 22 15 two ● Dedicated: The Dedicated segment provides customers with committed truckload capacity over contracted periods using equipment either owned or leased by the Company. ● Managed Freight: The Managed Freight segment includes our brokerage and transport management services (“TMS”). Brokerage services provide logistics capacity by outsourcing the carriage of customers’ freight to third ● Warehousing: The Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in our 2019 10 The following table summarizes our total revenue by our four three nine September 30, 2020 2019 (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenues: Expedited $ 78,410 $ 87,674 $ 244,347 $ 265,664 Dedicated 71,104 87,284 218,833 257,362 Managed Freight 47,594 33,339 112,695 95,725 Warehousing 13,722 12,162 37,458 36,081 Total revenues $ 210,830 $ 220,459 $ 613,333 $ 654,832

Note 5 - Income Taxes

Note 5 - Income Taxes	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5. Income Taxes Income tax expense in both 2020 2019 Our liability recorded for uncertain tax positions as of September 30, 2020 December 31, 2019 The net deferred tax liability of $72.7 million primarily relates to differences in cumulative book versus tax depreciation of property and equipment, partially off-set by net operating loss carryovers and insurance claims that have been reserved but not may September 30, 2020 may On March 27, 2020, not

Note 6 - Restructuring and Cost

Note 6 - Restructuring and Cost Savings Initiatives	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	Note 6. Restructuring and Cost Savings Initiatives In the second 2020, one Although the significant majority of restructuring and cost savings initiatives were completed in the second 2020, third 2020 fourth 2020, In the second 2020 June 30, 2020. twelve second 2020 no third 2020 not (in thousands) Description Three months ended September 30, 2020 Nine months ended September 30, 2020 Segment(s) Impacted Value Determination Revenue equipment $ - $ 16,779 Expedited and Dedicated Third Party Market Appraisal Terminal facility, leasehold improvements, and equipment, Texarkana, AR - 7,319 Expedited and Dedicated Third Party Market Appraisal Leased office facility, Chattanooga, TN - 2,236 Managed Freight Loss on ROU Asset and Leasehold Improvements Training and orientation center, Chattanooga, TN - 235 Expedited and Dedicated Quoted Market Price Impairment of right-of-use asset, long lived properties, and equipment $ - $ 26,569 Other restructuring related gains and charges incurred during the three nine September 30, 2020 not (in thousands) Three months ended Nine months ended Description September 30, 2020 September 30, 2020 Segment(s) Impacted Statement of Operations Line Item Gain on sale of Hutchins, TX terminal $ - $ (5,712 ) Expedited and Dedicated Gain on disposition of property and equipment, net Employee separation costs (1) 1,000 2,791 Expedited, Dedicated and Managed Freight Salaries, wages, and related expenses Abandonment of information technology infrastructure and applications - 1,048 Expedited and Dedicated Gain on disposition of property and equipment, net Change in useful life/abandonment of intangible assets - 1,331 Dedicated, Managed Freight, and Warehousing Depreciation and amortization Abandonment of revenue equipment held under operating leases - 825 Expedited and Dedicated Revenue equipment rentals and purchased transportation Contract exit costs and restructuring related costs and professional fees - 695 Expedited and Dedicated General supplies and expenses Total $ 1,000 $ (978 ) ( 1 September 30, 2020, fourth 2020

Note 7 - Debt

Note 7 - Debt	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 7. Debt Current and long-term debt and lease obligations consisted of the following at September 30, 2020 December 31, 2019 (in thousands) September 30, 2020 December 31, 2019 Current Long-Term Current Long-Term Borrowings under Credit Facility $ - $ - $ - $ - Borrowings under the Draw Note - - - - Revenue equipment installment notes; weighted average interest rate of 2.8 3.7 13,939 67,528 53,431 177,514 Real estate notes; interest rate of 1.9 3.3 1,128 21,819 1,093 22,670 Deferred loan costs - - (147 ) (7 ) Total debt 15,067 89,347 54,377 200,177 Principal portion of finance lease obligations, secured by related revenue equipment 5,964 13,190 7,258 26,010 Principal portion of operating lease obligations, secured by related revenue equipment 17,478 25,635 19,460 40,882 Total debt and lease obligations $ 38,509 $ 128,172 $ 81,095 $ 267,069 We and substantially all of our subsidiaries are parties to 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"). On October 23, 2020, no October 2025 ( September 2021 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%, or LIBOR plus 1.0%, plus an applicable margin ranging from 0.25% to 0.75% (decreased from a range of 0.5% to 1.0% by the Eighteenth Amendment); while LIBOR loans accrue interest at LIBOR, plus an applicable margin ranging from 1.25% to 1.75% (decreased from a range of 1.5% to 2.0% by the Eighteenth Amendment). The applicable rates are adjusted quarterly based on average pricing availability. The unused line fee is the product of 0.25% times the average daily amount by which the Lenders' aggregate revolving commitments under the Credit Facility exceed the outstanding principal amount of revolver loans and the aggregate undrawn amount of all outstanding letters of credit issued under the Credit Facility. The obligations under the Credit Facility are guaranteed by us and secured by a pledge of substantially all of our assets, with the notable exclusion of any real estate or revenue equipment pledged under other financing agreements, including revenue equipment installment notes and finance leases. Borrowings under the Credit Facility are subject to a borrowing base limited to the lesser of (A) $110.0 $95.0 September 30, 2020 September 30, 2020 September 30, 2020 2019 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 may In connection with the TFS Settlement, on September 23, 2020, may September 23, 2025. one one September 23, 2026. may 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 2020 to October 2024 . not 2020, In April 2020, 19 90 three In August 2015, third second June 30, 2020, third not third September 30, 2020, 12

Note 8 - Lease Obligations

Note 8 - Lease Obligations	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 8. Lease Obligations The finance leases in effect at September 30, 2020 October 2020 January 2024 A summary of our lease obligations at September 30, 2020 2019 (dollars in thousands) Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Finance lease cost: Amortization of right-of-use assets $ 1,018 $ 1,406 $ 3,023 $ 4,225 Interest on lease liabilities 284 210 808 644 Operating lease cost 5,734 6,167 19,782 17,824 Variable lease cost 44 - 358 - Total lease cost $ 7,080 $ 7,783 $ 23,971 $ 22,693 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases 1,018 1,146 3,023 3,589 Operating cash flows from operating leases 5,778 6,167 20,140 17,824 Financing cash flows from finance leases 284 210 808 644 Right-of-use assets obtained in exchange for new finance lease liabilities 1,131 - 3,258 - Right-of-use assets obtained in exchange for new operating lease liabilities 122 20,096 2,759 26,421 Weighted-average remaining lease term—finance leases 1.8 years Weighted-average remaining lease term—operating leases 2.5 years Weighted-average discount rate—finance leases 4.2 % Weighted-average discount rate—operating leases 5.2 % During the three nine September 30, 2020 $0.0 $0.0 September 30, 2020 December 31, 2019, Our future minimum lease payments as of September 30, 2020 (in thousands) Operating Finance 2020 (1) $ 5,177 $ 6,654 2021 18,543 7,590 2022 15,523 5,456 2023 6,762 29 2024 28 - Thereafter 9 - Total minimum lease payments $ 46,042 $ 19,729 Less: amount representing interest (2,929 ) (575 ) Present value of minimum lease payments $ 43,113 $ 19,154 Less: current portion (17,478 ) (5,964 ) Lease obligations, long-term $ 25,635 $ 13,190 ( 1 nine September 30, 2020

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 9. Stock -Based Compensation Our Third Amended and Restated 2006 July 1, 2020, 2006 one one may June 1, 2030, The Incentive Plan permits annual awards of shares of our Class A common stock to executives, other key employees, consultants, non-employee directors, and eligible participants under various types of options, restricted stock awards, or other equity instruments. As of September 30, 2020 No may No may June 1, 2030. Included in salaries, wages, and related expenses within the condensed consolidated statements of operations is the net reversal of approximately $0.2 million and the recognition of $0.7 million of stock-based compensation expense for the three nine September 30, 2020 three nine September 30, 2019 2020 2019 no three nine September 30, 2020 2019, The Incentive Plan allows participants to pay the federal and state minimum statutory tax withholding requirements related to awards that vest or allows participants 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, 2020 2020

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
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. Our subsidiary Covenant Transport, Inc. (“Covenant Transport”) is a defendant in a lawsuit filed on November 9, 2018, October 31, 2014 not no September 30, 2020 On February, 28 2019, August 1, 2019, not no September 30, 2020 On August 2, 2018, five 5 "no not one 8 10 18 20 April 23, 2020. one not no September 30, 2020 Refer to Note 1, 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, discussed above, taking into account existing reserves, is not We had $36.7 million and $35.2 million of outstanding and undrawn letters of credit as of September 30, 2020 December 31, 2019

Note 11 - Equity Method Investm

Note 11 - Equity Method Investment	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Equity Method Investment [Text Block]	Note 11. 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 no nine September 30, 2020 2019 nine September 30, 2020 2019 third September 30, 2020 2019, September 30, 2020 December 31, 2019 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 2020 September 30, 2020 no nine September 30, 2020 three nine September 30, 2019 September 30, 2020 December 31, 2019 See TEL's summarized financial information below: (in thousands) As of September 30, As of December 31, 2020 2019 Total Assets $ 337,699 $ 374,591 Total Liabilities 279,543 318,743 Total Equity $ 58,156 $ 55,848 Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue $ 22,984 $ 30,709 $ 72,202 $ 82,683 Cost of Sales 2,748 6,302 10,332 17,213 Operating Expenses 15,184 16,634 51,708 42,775 Operating Income 5,052 7,773 10,162 22,695 Net Income $ 2,729 $ 4,585 $ 2,308 $ 14,452

Note 12 - Goodwill and Other As

Note 12 - Goodwill and Other Assets	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 12. Goodwill and Other Assets On July 3, 2018, As a result of management compensation structure changes and a change in the branding strategy of the organization, the Company revised the estimated remaining useful life of the Landair trade name to 15 months as of June 30, 2020. second 2020. none three nine September 30, 2020, As of September 30, 2020 December 31, 2019, A summary of other intangible assets as of September 30, 2020 December 31, 2019 (in thousands) September 30, 2020 Gross intangible assets Accumulated amortization Net intangible assets Remaining life (months) Trade name: Dedicated $ 2,402 $ (896 ) $ 1,506 Managed Freight 999 (373 ) 626 Warehousing 999 (373 ) 626 Total trade name 4,400 (1,642 ) 2,758 12 Non-Compete agreement: Dedicated 914 (914 ) - Managed Freight 130 (130 ) - Warehousing 356 (356 ) - Total non-compete agreement 1,400 (1,400 ) - - Customer relationships: Dedicated 14,072 (2,638 ) 11,434 Managed Freight 1,692 (318 ) 1,374 Warehousing 12,436 (2,332 ) 10,104 Total customer relationships: 28,200 (5,288 ) 22,912 117 Total other intangible assets $ 34,000 $ (8,330 ) $ 25,670 (in thousands) December 31, 2019 Gross intangible assets Accumulated amortization Net intangible assets Remaining life (months) Trade name: Dedicated $ 2,402 $ (240 ) $ 2,162 Managed Freight 999 (100 ) 899 Warehousing 999 (100 ) 899 Total trade name 4,400 (440 ) 3,960 162 Non-Compete agreement: Dedicated 914 (274 ) 640 Managed Freight 130 (39 ) 91 Warehousing 356 (107 ) 249 Total non-compete agreement 1,400 (420 ) 980 42 Customer relationships: Dedicated 14,072 (1,759 ) 12,313 Managed Freight 1,692 (213 ) 1,479 Warehousing 12,436 (1,554 ) 10,883 Total customer relationships: 28,200 (3,525 ) 24,675 126 Total other intangible assets $ 34,000 $ (4,385 ) $ 29,615 The above intangible assets have a weighted average remaining life of 106 months as of September 30, 2020 December 31, 2019, 2020 five (in thousands) 2020 (1) $ 1,152 2021 4,043 2022 2,350 2023 2,350 2024 2,350 2025 2,350 Thereafter 10,575 ( 1 nine September 30, 2020

Note 13 - Equity

Note 13 - Equity	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 13. Equity On February 10, 2020, March 26, 2020, three March 31, 2020. no three September 30, 2020.

Note 14 - Liquidity

Note 14 - Liquidity	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Liquidity Disclosure1 [Text Block]	Note 14. Liquidity Our business requires significant capital investments over the short-term and the long-term. We generally finance our capital requirements with borrowings under our Credit Facility, cash flows from operations, long-term operating leases, finance leases, secured installment notes with finance companies, and proceeds from the sale of our used revenue equipment. We had working capital (total current assets less total current liabilities) of $53.5 million and $93.1 million at September 30, 2020 December 31, 2019 As of September 30, 2020 no not During the first 2020, 19 2020,

Note 15 - Subsequent Events

Note 15 - Subsequent Events	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 15. Subsequent Events On October 23, 2020, October 2025, no In October 2020,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation On July 1, 2020, The condensed consolidated financial statements include the accounts of Covenant Logistics 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 Logistics 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, 2019 nine September 30, 2020 not may December 31, 2020 10 December 31, 2019 not
Change in Accounting Estimate [Policy Text Block]	Change in Estimates The Company reviews the estimated useful lives and salvage values of its assets on an ongoing basis, based upon, among other things, our experience with similar assets, conditions in the used revenue equipment market, and prevailing industry practice. During the second 2020, nine September 30, 2020,
Risks and Uncertainties [Policy Text Block]	Risks and Uncertainties In March 2020, 19 19 19, third not Our insurance program includes multi-year policies with specific insurance limits that may April 1, 2018 March 31, 2021), March 31, 2021, may may may On July 8, 2020, September 23, 2020 October 2020, The amended purchase agreement specifically identified approximately $62.0 million accounts within the Portfolio, which related to advances on services that had not first $30.0 To date no not September 30, 2020,
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 over five seven ten not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Accounting Standards not In June 2016, 2016 13, January 1, 2023,

Note 2 - Income (Loss) Per Sh_2

Note 2 - Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	(in thousands except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Numerators: Income (loss) from continuing operations $ 4,713 $ (4,042 ) $ (21,540 ) $ 4,961 Income from discontinued operations 2,788 853 4,485 2,354 Net income (loss) $ 7,501 $ (3,189 ) $ (17,055 ) $ 7,315 Denominator: Denominator for basic income (loss) per share – weighted-average shares 17,134 18,458 17,435 18,426 Effect of dilutive securities: Equivalent shares issuable upon conversion of unvested restricted shares 133 - - 194 Denominator for diluted income (loss) per share adjusted weighted-average shares and assumed conversions 17,267 18,458 17,435 18,620 Basic income (loss) per share: Income (loss) from continuing operations $ 0.28 $ (0.22 ) $ (1.24 ) $ 0.27 Income from discontinued operations 0.16 0.05 0.26 0.13 Net income (loss) (1) $ 0.44 $ (0.17 ) $ (0.98 ) $ 0.40 Diluted income (loss) per share: Income (loss) from continuing operations $ 0.27 $ (0.22 ) $ (1.24 ) $ 0.27 Income from discontinued operations 0.16 0.05 0.26 0.13 Net income (loss) (1) $ 0.43 $ (0.17 ) $ (0.98 ) $ 0.39

Note 3 - Discontinued Operati_2

Note 3 - Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	(in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total revenue $ 142 $ 2,455 $ 5,397 $ 6,561 Operating expenses (3,601 ) 515 (2,571 ) 1,327 Operating income 3,743 1,940 7,968 5,234 Interest expense - 794 1,948 2,073 Income before income taxes 3,743 1,146 6,020 3,161 Income tax expense 955 293 1,535 807 Net income from discontinued operations, net of tax $ 2,788 $ 853 $ 4,485 $ 2,354 (in thousands) September 30, 2020 December 31, 2019 Current assets: Accounts receivable, net of allowance of $ 0 408 $ - $ 86,620 Other short-term assets 21,094 - Current assets of discontinued operations 21,094 86,620 Current liabilities: Accounts payable 20,226 6,245 Current liabilities of discontinued operations $ 20,226 $ 6,245 (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total revenue $ 210,830 $ 220,459 $ 613,333 $ 654,832 Income (loss) from continuing operations 4,713 (4,042 ) (21,540 ) 4,961 Income (loss) per basic share from continuing operations $ 0.28 $ (0.22 ) $ (1.24 ) $ 0.27 Income (loss) per diluted share from continuing operations $ 0.27 $ (0.22 ) $ (1.24 ) $ 0.27

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	(in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenues: Expedited $ 78,410 $ 87,674 $ 244,347 $ 265,664 Dedicated 71,104 87,284 218,833 257,362 Managed Freight 47,594 33,339 112,695 95,725 Warehousing 13,722 12,162 37,458 36,081 Total revenues $ 210,830 $ 220,459 $ 613,333 $ 654,832

Note 6 - Restructuring and Co_2

Note 6 - Restructuring and Cost Savings Initiatives (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Asset Group Impairment [Table Text Block]	Description Three months ended September 30, 2020 Nine months ended September 30, 2020 Segment(s) Impacted Value Determination Revenue equipment $ - $ 16,779 Expedited and Dedicated Third Party Market Appraisal Terminal facility, leasehold improvements, and equipment, Texarkana, AR - 7,319 Expedited and Dedicated Third Party Market Appraisal Leased office facility, Chattanooga, TN - 2,236 Managed Freight Loss on ROU Asset and Leasehold Improvements Training and orientation center, Chattanooga, TN - 235 Expedited and Dedicated Quoted Market Price Impairment of right-of-use asset, long lived properties, and equipment $ - $ 26,569
Restructuring and Related Costs [Table Text Block]	Three months ended Nine months ended Description September 30, 2020 September 30, 2020 Segment(s) Impacted Statement of Operations Line Item Gain on sale of Hutchins, TX terminal $ - $ (5,712 ) Expedited and Dedicated Gain on disposition of property and equipment, net Employee separation costs (1) 1,000 2,791 Expedited, Dedicated and Managed Freight Salaries, wages, and related expenses Abandonment of information technology infrastructure and applications - 1,048 Expedited and Dedicated Gain on disposition of property and equipment, net Change in useful life/abandonment of intangible assets - 1,331 Dedicated, Managed Freight, and Warehousing Depreciation and amortization Abandonment of revenue equipment held under operating leases - 825 Expedited and Dedicated Revenue equipment rentals and purchased transportation Contract exit costs and restructuring related costs and professional fees - 695 Expedited and Dedicated General supplies and expenses Total $ 1,000 $ (978 )

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Debt [Table Text Block]	(in thousands) September 30, 2020 December 31, 2019 Current Long-Term Current Long-Term Borrowings under Credit Facility $ - $ - $ - $ - Borrowings under the Draw Note - - - - Revenue equipment installment notes; weighted average interest rate of 2.8 3.7 13,939 67,528 53,431 177,514 Real estate notes; interest rate of 1.9 3.3 1,128 21,819 1,093 22,670 Deferred loan costs - - (147 ) (7 ) Total debt 15,067 89,347 54,377 200,177 Principal portion of finance lease obligations, secured by related revenue equipment 5,964 13,190 7,258 26,010 Principal portion of operating lease obligations, secured by related revenue equipment 17,478 25,635 19,460 40,882 Total debt and lease obligations $ 38,509 $ 128,172 $ 81,095 $ 267,069

Note 8 - Lease Obligations (Tab

Note 8 - Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Lease, Cost [Table Text Block]	(dollars in thousands) Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Finance lease cost: Amortization of right-of-use assets $ 1,018 $ 1,406 $ 3,023 $ 4,225 Interest on lease liabilities 284 210 808 644 Operating lease cost 5,734 6,167 19,782 17,824 Variable lease cost 44 - 358 - Total lease cost $ 7,080 $ 7,783 $ 23,971 $ 22,693 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases 1,018 1,146 3,023 3,589 Operating cash flows from operating leases 5,778 6,167 20,140 17,824 Financing cash flows from finance leases 284 210 808 644 Right-of-use assets obtained in exchange for new finance lease liabilities 1,131 - 3,258 - Right-of-use assets obtained in exchange for new operating lease liabilities 122 20,096 2,759 26,421 Weighted-average remaining lease term—finance leases 1.8 years Weighted-average remaining lease term—operating leases 2.5 years Weighted-average discount rate—finance leases 4.2 % Weighted-average discount rate—operating leases 5.2 %
Lessee, Lease Liability, Maturity [Table Text Block]	(in thousands) Operating Finance 2020 (1) $ 5,177 $ 6,654 2021 18,543 7,590 2022 15,523 5,456 2023 6,762 29 2024 28 - Thereafter 9 - Total minimum lease payments $ 46,042 $ 19,729 Less: amount representing interest (2,929 ) (575 ) Present value of minimum lease payments $ 43,113 $ 19,154 Less: current portion (17,478 ) (5,964 ) Lease obligations, long-term $ 25,635 $ 13,190

Note 11 - Equity Method Inves_2

Note 11 - Equity Method Investment (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Equity Method Investments, Balance Sheet [Table Text Block]	(in thousands) As of September 30, As of December 31, 2020 2019 Total Assets $ 337,699 $ 374,591 Total Liabilities 279,543 318,743 Total Equity $ 58,156 $ 55,848
Equity Method Investments [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue $ 22,984 $ 30,709 $ 72,202 $ 82,683 Cost of Sales 2,748 6,302 10,332 17,213 Operating Expenses 15,184 16,634 51,708 42,775 Operating Income 5,052 7,773 10,162 22,695 Net Income $ 2,729 $ 4,585 $ 2,308 $ 14,452

Note 12 - Goodwill and Other _2

Note 12 - Goodwill and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	(in thousands) September 30, 2020 Gross intangible assets Accumulated amortization Net intangible assets Remaining life (months) Trade name: Dedicated $ 2,402 $ (896 ) $ 1,506 Managed Freight 999 (373 ) 626 Warehousing 999 (373 ) 626 Total trade name 4,400 (1,642 ) 2,758 12 Non-Compete agreement: Dedicated 914 (914 ) - Managed Freight 130 (130 ) - Warehousing 356 (356 ) - Total non-compete agreement 1,400 (1,400 ) - - Customer relationships: Dedicated 14,072 (2,638 ) 11,434 Managed Freight 1,692 (318 ) 1,374 Warehousing 12,436 (2,332 ) 10,104 Total customer relationships: 28,200 (5,288 ) 22,912 117 Total other intangible assets $ 34,000 $ (8,330 ) $ 25,670 (in thousands) December 31, 2019 Gross intangible assets Accumulated amortization Net intangible assets Remaining life (months) Trade name: Dedicated $ 2,402 $ (240 ) $ 2,162 Managed Freight 999 (100 ) 899 Warehousing 999 (100 ) 899 Total trade name 4,400 (440 ) 3,960 162 Non-Compete agreement: Dedicated 914 (274 ) 640 Managed Freight 130 (39 ) 91 Warehousing 356 (107 ) 249 Total non-compete agreement 1,400 (420 ) 980 42 Customer relationships: Dedicated 14,072 (1,759 ) 12,313 Managed Freight 1,692 (213 ) 1,479 Warehousing 12,436 (1,554 ) 10,883 Total customer relationships: 28,200 (3,525 ) 24,675 126 Total other intangible assets $ 34,000 $ (4,385 ) $ 29,615
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) 2020 (1) $ 1,152 2021 4,043 2022 2,350 2023 2,350 2024 2,350 2025 2,350 Thereafter 10,575

Note 1 - Significant Accounti_2

Note 1 - Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		Jul. 08, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2021	Oct. 31, 2020	Dec. 31, 2019
Depreciation, Depletion and Amortization, Nonproduction, Total			$ 13,428			$ 20,817			$ 51,274	$ 61,230
Net Income (Loss) Attributable to Parent, Total			$ 7,501	$ (22,343)	$ (2,213)	$ (3,189)	$ 6,071	$ 4,433	$ (17,055)	$ 7,315
Earnings Per Share, Diluted, Total (in dollars per share)	[1]		$ 0.43			$ (0.17)			$ (0.98)	$ 0.39
Insurance Policy Primary Occurence Limit											$ 9,000
Insurance Policy Excess Coverage											$ 1,000
Insurance Policy, Reinstatement Charges									$ 1,000
Proceeds from Divestiture of Businesses									108,375	$ 0
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total									$ 3,720	$ 0
Tractors [Member]
Property, Plant and Equipment, Useful Life (Year)									5 years
Property, Plant and Equipment, Salvage Value, Percentage			15.00%						15.00%
Refrigerated Trailers [Member]
Property, Plant and Equipment, Useful Life (Year)									7 years
Dry Van Trailers [Member]
Property, Plant and Equipment, Useful Life (Year)									10 years
Property, Plant and Equipment, Salvage Value, Percentage			25.00%						25.00%
Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member]
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net		$ 103,300	$ 0						$ 0				$ 86,620
Disposal Group, Including Discontinued Operation, Consideration		122,300	$ 108,400						108,400
Proceeds from Divestiture of Businesses		108,400
Disposal Group, Including Discontinued Operation, Stock Value		13,900
Disposal Group, Including Discontinued Operation, Earnout Opportuntiy, Maximum		9,900
Disposal Group Including Discontinued Operation, Dispute over Nature of Assets		66,000
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total		3,700
Disposal Group Including Discontinued Operation, Assets Advances Against Future Payments For Services Not Yet Performed		62,000
Disposal Group Including Discontinued Operation, Indemnity, Loss Amount		$ 30,000
Disposal Group Including Discontinued Operation, Indemnity, Percentage of Next 30 Million Loss		50.00%
Disposal Group Including Discontinued Operation, Total Indemnification		$ 45,000
Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member] | Subsequent Event [Member]
Disposal Group, Including Discontinued Operation, Consideration Returned upon Settlement												$ 28,100
Intangible Assets, Amortization Period [Member]
Depreciation, Depletion and Amortization, Nonproduction, Total									3,200
Net Income (Loss) Attributable to Parent, Total									$ (2,200)
Earnings Per Share, Diluted, Total (in dollars per share)									$ (0.13)
[1]	Sum of the individual amounts may not add due to rounding.

Note 2 - Income (Loss) Per Sh_3

Note 2 - Income (Loss) Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares)	133,000	261,000	216,000	194,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	0	0	0	0

Note 2 - Income (Loss) Per Sh_4

Note 2 - Income (Loss) Per Share - Calculation of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerators:
Income (loss) from continuing operations		$ 4,713			$ (4,042)			$ (21,540)	$ 4,961
Income from discontinued operations		2,788			853			4,485	2,354
Net Income (Loss) Attributable to Parent, Total		$ 7,501	$ (22,343)	$ (2,213)	$ (3,189)	$ 6,071	$ 4,433	$ (17,055)	$ 7,315
Denominator:
Denominator for basic income (loss) per share – weighted-average shares (in shares)		17,134			18,458			17,435	18,426
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted shares (in shares)		133			0			0	194
Diluted weighted average shares outstanding (in shares)		17,267			18,458			17,435	18,620
Basic income (loss) per share:
Income (loss) from continuing operations (in dollars per share)		$ 0.28			$ (0.22)			$ (1.24)	$ 0.27
Income from discontinued operations (in dollars per share)		0.16			0.05			0.26	0.13
Net income (loss)(1) (in dollars per share)	[1]	0.44			(0.17)			(0.98)	0.40
Diluted income (loss) per share:
Income (loss) from continuing operations (in dollars per share)		0.27			(0.22)			(1.24)	0.27
Income from discontinued operations (in dollars per share)		0.16			0.05			0.26	0.13
Earnings Per Share, Diluted, Total (in dollars per share)	[1]	$ 0.43			$ (0.17)			$ (0.98)	$ 0.39
[1]	Sum of the individual amounts may not add due to rounding.

Note 3 - Discontinued Operati_3

Note 3 - Discontinued Operations (Details Textual) - Transport Financial Services [Member] - Discontinued Operations, Held-for-sale [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Oct. 31, 2020	Jul. 08, 2020	Dec. 31, 2019
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	$ 0	$ 0			$ 103,300	$ 86,620
Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Gross					108,700
Disposal Group, Including Discontinued Operation, Allowance	0	0			$ 5,400	$ 408
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	3,700
Investments, Fair Value Disclosure, Total	$ 19,600	19,600
Cash Provided by (Used in) Operating Activities, Discontinued Operations		10,000	$ 25,900
Cash Provided by (Used in) Investing Activities, Discontinued Operations		108,400	$ 0
Cash Provided by (Used in) Financing Activities, Discontinued Operations		$ 0
Subsequent Event [Member]
Disposal Group, Including Discontinued Operation, Consideration Returned upon Settlement				$ 28,100

Note 3 - Discontinued Operati_4

Note 3 - Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 08, 2020	Dec. 31, 2019
Current assets of discontinued operations	$ 21,094		$ 21,094			$ 86,620
Current liabilities of discontinued operations	20,226		20,226			6,245
Revenue	210,830	$ 220,459	613,333	$ 654,832
Income (loss) from continuing operations	$ 4,713	$ (4,042)	$ (21,540)	$ 4,961
Income (loss) per basic share from continuing operations (in dollars per share)	$ 0.28	$ (0.22)	$ (1.24)	$ 0.27
Income (loss) per diluted share from continuing operations (in dollars per share)	$ 0.27	$ (0.22)	$ (1.24)	$ 0.27
Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member]
Total revenue	$ 142	$ 2,455	$ 5,397	$ 6,561
Operating expenses	(3,601)	515	(2,571)	1,327
Operating income	3,743	1,940	7,968	5,234
Interest expense	0	794	1,948	2,073
Income before income taxes	3,743	1,146	6,020	3,161
Income tax expense	955	293	1,535	807
Net income from discontinued operations, net of tax	2,788	853	4,485	2,354
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	0		0		$ 103,300	86,620
Other short-term assets	21,094		21,094			0
Current assets of discontinued operations	21,094		21,094			86,620
Accounts payable	20,226		20,226			6,245
Current liabilities of discontinued operations	20,226		20,226			$ 6,245
Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member] | Pro Forma [Member]
Revenue	210,830	220,459	613,333	654,832
Income (loss) from continuing operations	$ 4,713	$ (4,042)	$ (21,540)	$ 4,961
Income (loss) per basic share from continuing operations (in dollars per share)	$ 0.28	$ (0.22)	$ (1.24)	$ 0.27
Income (loss) per diluted share from continuing operations (in dollars per share)	$ 0.27	$ (0.22)	$ (1.24)	$ 0.27

Note 3 - Discontinued Operati_5

Note 3 - Discontinued Operations - Results of Discontinued Operations (Details) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Jul. 08, 2020	Dec. 31, 2019
Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member]
Disposal Group, Including Discontinued Operation, Allowance	$ 0	$ 5,400	$ 408

Note 4 - Segment Information (D

Note 4 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2020
Number of Asset-based Operating Fleets Aggregated in a Segment	4

Note 4 - Segment Information -

Note 4 - Segment Information - Segment by Operating Fleet Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total revenue	$ 210,830	$ 220,459	$ 613,333	$ 654,832
Expedited [Member]
Total revenue	78,410	87,674	244,347	265,664
Dedicated [Member]
Total revenue	71,104	87,284	218,833	257,362
Managed Freight [Member]
Total revenue	47,594	33,339	112,695	95,725
Warehousing [Member]
Total revenue	$ 13,722	$ 12,162	$ 37,458	$ 36,081

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Deferred Tax Assets, Valuation Allowance, Total	$ 0.2
Deferred Tax Liabilities, Net, Total	72.7
Deferred Tax Assets Related to State Net Operating Loss Carry Forwards [Member]
Deferred Tax Assets, Valuation Allowance, Total	$ 0.4

Note 6 - Restructuring and Co_3

Note 6 - Restructuring and Cost Savings Initiatives (Details Textual) - Employee Severance [Member] $ in Millions	Sep. 30, 2020USD ($)
Restructuring Reserve, Current	$ 1.6
Restructuring and Related Cost, Expected Cost Remaining	$ 1

Note 6 - Restructuring and Co_4

Note 6 - Restructuring and Cost Savings Initiatives - Summary of Asset Groups Impaired (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of long lived property, equipment, and right-of-use assets	$ 0	$ 0	$ 26,569	$ 0
Revenue Equipment [Member] | Highway Services and Dedicated [Member]
Impairment of long lived property, equipment, and right-of-use assets	0		16,779
Terminal Property [Member] | Highway Services and Dedicated [Member]
Impairment of long lived property, equipment, and right-of-use assets	0		7,319
Leased Office Facility [Member]
Impairment of long lived property, equipment, and right-of-use assets	0		2,200
Leased Office Facility [Member] | Managed Freight [Member]
Impairment of long lived property, equipment, and right-of-use assets	0		2,236
Training and Orientation Center [Member] | Highway Services [Member]
Impairment of long lived property, equipment, and right-of-use assets	$ 0		$ 235

Note 6 - Restructuring and Co_5

Note 6 - Restructuring and Cost Savings Initiatives - Other Restructuring Gains and Charges (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Gain on sale of Hutchins, TX terminal			$ 7,019	$ 2,137
Total		$ 1,000	(978)
Highway Services and Dedicated [Member] | Gain on Disposition of Property and Equipment, Net [Member]
Gain on sale of Hutchins, TX terminal		0	5,712
Abandonment		0	1,048
Highway Services and Dedicated [Member] | Revenue Equipment Rentals and Purchased Transportation [Member]
Abandonment		0	825
Highway Services and Dedicated [Member] | General Supplies and Expenses [Member]
Contract exit costs and restructuring related costs and professional fees		0	695
Highway Services, Dedicated, and Managed Freight [Member] | Salaries Wages And Related Expenses [Member]
Employee separation costs (1)	[1]	1,000	2,791
Dedicated and Managed Freight [Member] | Depreciation and Amortization [Member]
Change in useful life/abandonment of intangible assets		$ 0	$ 1,331
[1]	As of September 30, 2020 we have a $1.0 million current liability related to employee separation costs. We expect to incur additional employee separation costs in the fourth quarter of 2020 related to this restructuring activity, but do not have enough information to quantify at this time.

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($) $ in Thousands	Oct. 23, 2020	Sep. 23, 2020	Sep. 30, 2020	Sep. 30, 2019	Apr. 30, 2020	Dec. 31, 2019	Aug. 31, 2015
Letters of Credit Outstanding, Amount			$ 36,700			$ 35,200
Interest Rate Swap [Member]
Derivative, Fixed Interest Rate							4.20%
Variable Rate Note [Member]
Debt Instrument, Face Amount							$ 28,000
Lenders [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 95,000
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			$ 45,000
Percent of Appraised Fair Market Value of Eligible Real Estate			75.00%
Long-term Line of Credit, Total			$ 0
Letters of Credit Outstanding, Amount			36,700
Line of Credit Facility, Remaining Borrowing Capacity			58,300
Fixed Charge Coverage Requirement			0	$ 0
Debt, Secured with a Cross Default Feature			$ 60,300		$ 177,300
Lenders [Member] | Federal Funds Rate [Member] | Base Rate Loans [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Lenders [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate Loans [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Lenders [Member] | Applicable Margin [Member] | Base Rate Loans [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Lenders [Member] | Applicable Margin [Member] | Base Rate Loans [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Lenders [Member] | Applicable Margin [Member] | LIBOR Loans [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.50%
Lenders [Member] | Applicable Margin [Member] | LIBOR Loans [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			2.00%
Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 95,000
Line of Credit Facility, Maximum Increase in Borrowing Capacity			50,000
Lenders [Member] | Revolving Credit Facility [Member] | Base Rate Loans [Member]
Long-term Line of Credit, Total			0
Lenders [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			95,000
Line of Credit Facility, Borrowing Capacity, Percentage of Aggregate Commitments			$ 10,000
Lenders [Member] | Swing Line Sub Facility [Member]
Percent of Aggregate Commitments under Credit Facility			10.00%
Lenders [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 110,000
Percent of Eligible Accounts Receivable	87.50%
Percent of Net Book Value of Eligible Revenue Equipment	100.00%
Line of Credit Facility, Availability as Percentage of Revolver Commitment	40.90%
Line of Credit Facility, Maximum Commitment Value	$ 10,400
Percent of Appraised Fair Market Value of Eligible Real Estate	80.00%
Lenders [Member] | Subsequent Event [Member] | Applicable Margin [Member] | Base Rate Loans [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Lenders [Member] | Subsequent Event [Member] | Applicable Margin [Member] | Base Rate Loans [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Lenders [Member] | Subsequent Event [Member] | Applicable Margin [Member] | LIBOR Loans [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Lenders [Member] | Subsequent Event [Member] | Applicable Margin [Member] | LIBOR Loans [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Lenders [Member] | Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 110,000
Lenders [Member] | Subsequent Event [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 105,000
TBK Bank [Member] | Draw Note [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 45,000
Debt Instrument, Collateral Amount		$ 60,000
TBK Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Draw Note [Member]
Debt Instrument, Basis Spread on Variable Rate		1.50%
TBK Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Draw Note [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.25%

Note 7 - Debt - Current and Lon

Note 7 - Debt - Current and Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt, current	$ 15,067	$ 54,377
Debt, noncurrent	89,347	200,177
Deferred loan costs, current	0	(147)
Deferred loan costs, noncurrent	0	(7)
Principal portion of finance lease obligations, secured by related revenue equipment, current	5,964	7,258
Principal portion of finance lease obligations, secured by related revenue equipment, noncurrent	13,190	26,010
Principal portion of operating lease obligations, secured by related revenue equipment	17,478	19,460
Principal portion of operating lease obligations, secured by related revenue equipment	25,635	40,882
Total debt and lease obligations, current	38,509	81,095
Total debt and lease obligations, noncurrent	128,172	267,069
Draw Note [Member]
Credit facility, current	0	0
Credit facility, noncurrent	0	0
Revenue Equipment Installment Notes [Member]
Debt, current	13,939	53,431
Debt, noncurrent	67,528	177,514
Real Estate Note [Member]
Debt, current	1,128	1,093
Debt, noncurrent	21,819	22,670
Revolving Credit Facility [Member]
Credit facility, current	0	0
Credit facility, noncurrent	$ 0	$ 0

Note 7 - Debt - Current and L_2

Note 7 - Debt - Current and Long-term Debt (Details) (Parentheticals)	Sep. 30, 2020	Dec. 31, 2019
Revenue Equipment Installment Notes [Member]
Interest rate	2.80%	3.70%
Real Estate Note [Member]
Interest rate	1.90%	3.30%

Note 8 - Lease Obligations (Det

Note 8 - Lease Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Impairment of Long-Lived Assets to be Disposed of	$ 0	$ 0	$ 26,569	$ 0
Revenue Equipment Rentals and Purchased Transportation	58,604	$ 50,428	151,677	$ 146,267
Operating Lease, Right-of-Use Asset	41,700		41,700		$ 58,800
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total	50,600		50,600		$ 35,600
Leased Office Facility [Member]
Impairment of Long-Lived Assets to be Disposed of	0		2,200
Revenue Equipment Rentals and Purchased Transportation	$ 0		$ 800

Note 8 - Lease - Lease Obligati

Note 8 - Lease - Lease Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Amortization of right-of-use assets	$ 1,018	$ 1,406	$ 3,023	$ 4,225
Interest on lease liabilities	284	210	808	644
Operating lease cost	5,734	6,167	19,782	17,824
Variable lease cost	44	0	358	0
Total lease cost	7,080	7,783	23,971	22,693
Operating cash flows from finance leases	1,018	1,146	3,023	3,589
Operating cash flows from operating leases	5,778	6,167	20,140	17,824
Financing cash flows from finance leases	284	210	808	644
Right-of-use assets obtained in exchange for new finance lease liabilities	1,131	0	3,258	0
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 122	$ 20,096	$ 2,759	$ 26,421
Weighted-average remaining lease term—finance leases (Year)	1 year 9 months 18 days		1 year 9 months 18 days
Weighted-average remaining lease term—operating leases (Year)	2 years 6 months		2 years 6 months
Weighted-average discount rate—finance leases	4.20%		4.20%
Weighted-average discount rate—operating leases	5.20%		5.20%

Note 8 - Lease - Future Minimum

Note 8 - Lease - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
2020, Operating	[1]	$ 5,177
2020, Finance	[1]	6,654
2021, Operating		18,543
2021, Finance		7,590
2022, Operating		15,523
2022, Finance		5,456
2023, Operating		6,762
2023, Finance		29
2024, Operating		28
2024, Finance		0
Thereafter, Operating		9
Thereafter, Finance		0
Total minimum lease payments, Operating		46,042
Total minimum lease payments, Finance		19,729
Less: amount representing interest, Operating		(2,929)
Less: amount representing interest, Finance		(575)
Present value of minimum lease payments, Operating		43,113
Present value of minimum lease payments, Finance		19,154
Less: current portion, Operating		(17,478)	$ (19,460)
Less: current portion, Finance		(5,964)	(7,258)
Lease obligations, long-term, Operating		25,635
Lease obligations, long-term, Finance		$ 13,190	$ 26,010
[1]	Excludes the nine months ended September 30, 2020.

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation (Details Textual) - USD ($)	Jul. 01, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	1,900,000
Fungible Share Reserve Feature, Shares Subject for Each Share Granted (in shares)	1
Fungible Share Reserve Feature, Shares Subject to All Other Awards (in shares)	1.80
Maximum Number of Shares of Class A Common Stock Awarded to any Participant in the Incentive Plan in any Calendar Year (in shares)	500,000	500,000		500,000		200,000
Maximum Cash Awarded to any Participant in the Incentive Plan in any Calendar Year	$ 4,000,000	$ 4,000,000		$ 4,000,000		$ 2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		2,515,193		2,515,193
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		4,200,000		4,200,000
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)				5,119
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased (in dollars per share)		$ 14.15		$ 14.15
Payment, Tax Withholding, Share-based Payment Arrangement				$ 68,000	$ 762,000
Maximum [Member]
Payment, Tax Withholding, Share-based Payment Arrangement				100,000
Salaries Wages And Related Expenses [Member]
Share-based Payment Arrangement, Expense		$ 200,000	$ 600,000	700,000	1,100,000
General Supplies and Expenses [Member]
Share-based Payment Arrangement, Expense		$ 400,000	$ 400,000	$ 400,000	$ 400,000

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Letters of Credit Outstanding, Amount	$ 36.7	$ 35.2
Draw Note [Member] | TBK Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 45

Note 11 - Equity Method Inves_3

Note 11 - Equity Method Investment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 86,555	$ 31,235
Reversal of Deferred Gains of Sale of Property			(77)	(7)
Income (Loss) from Equity Method Investments, Total	$ 1,176	$ 2,138	971	7,548
Transport Enterprise Leasing LLC [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total			0	0
Revenue from Related Parties			6,300	7,100
Reversal of Deferred Gains of Sale of Property			$ 100	$ 100
Equity Method Investment, Ownership Percentage	49.00%	49.00%	49.00%	49.00%
Due from Related Parties, Total	$ 800		$ 800		$ 1,200
Income (Loss) from Equity Method Investments, Total			1,000
Proceeds from Equity Method Investment, Distribution		$ 1,200	0	$ 1,200
Equity Method Investments	33,000		33,000		$ 32,400
Transport Enterprise Leasing LLC [Member] | Reduction in TEL Investment [Member]
Deferred Gain on Sale of Property	$ 100	$ 200	$ 100	$ 200

Note 11 - Equity Method Inves_4

Note 11 - Equity Method Investment - TEL's Summarized Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Total Assets	$ 723,833	$ 881,640
Total Liabilities	409,037	531,529
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Total Assets	337,699	374,591
Total Liabilities	279,543	318,743
Total Equity	$ 58,156	$ 55,848

Note 11 - Equity Method Inves_5

Note 11 - Equity Method Investment - TEL's Summarized Financial Information - Income Statement (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue	$ 22,984	$ 30,709	$ 72,202	$ 82,683
Cost of Sales	2,748	6,302	10,332	17,213
Operating Expenses	15,184	16,634	51,708	42,775
Operating Income	5,052	7,773	10,162	22,695
Net Income	$ 2,729	$ 4,585	$ 2,308	$ 14,452

Note 12 - Goodwill and Other _3

Note 12 - Goodwill and Other Assets (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Jul. 03, 2018
Additional Amortization Resulting from Termination of Non-compete Agreement	$ 0		$ 1,300
Termination of Non-ompete Agreement, Effect on Earnings, after Tax			$ (1,000)
Termination of Non-comepete Agreement, Effect on Earnings Per Share, after Tax (in dollars per share)			$ (0.06)
Goodwill, Ending Balance	$ 42,518		$ 42,518	$ 42,518
Finite-Lived Intangible Asset, Useful Life (Month)			106 months	128 months
Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Month)			12 months	162 months
Landair Holdings Inc [Member]
Business Acquisition, Percentage of Voting Interests Acquired					100.00%
Landair Holdings Inc [Member] | Trade Names [Member]
Finite-Lived Intangible Assets, Remaining Amortization Period (Month)		15 months
Acquired Finite-lived Intangible Asset, Residual Value		$ 500

Note 12 - Goodwill and Other _4

Note 12 - Goodwill and Other Assets - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Gross	$ 34,000	$ 34,000
Finite-Lived Intangible Assets, Accumulated Amortization	(8,330)	(4,385)
Finite-Lived Intangible Assets, Net	$ 25,670	$ 29,615
Finite-Lived Intangible Asset, Useful Life (Month)	106 months	128 months
Trade Names [Member]
Finite-Lived Intangible Assets, Gross	$ 4,400	$ 4,400
Finite-Lived Intangible Assets, Accumulated Amortization	(1,642)	(440)
Finite-Lived Intangible Assets, Net	$ 2,758	$ 3,960
Finite-Lived Intangible Asset, Useful Life (Month)	12 months	162 months
Trade Names [Member] | Dedicated [Member]
Finite-Lived Intangible Assets, Gross	$ 2,402	$ 2,402
Finite-Lived Intangible Assets, Accumulated Amortization	(896)	(240)
Finite-Lived Intangible Assets, Net	1,506	2,162
Trade Names [Member] | Managed Freight [Member]
Finite-Lived Intangible Assets, Gross	999	999
Finite-Lived Intangible Assets, Accumulated Amortization	(373)	(100)
Finite-Lived Intangible Assets, Net	626	899
Trade Names [Member] | Warehousing [Member]
Finite-Lived Intangible Assets, Gross	999	999
Finite-Lived Intangible Assets, Accumulated Amortization	(373)	(100)
Finite-Lived Intangible Assets, Net	626	899
Noncompete Agreements [Member]
Finite-Lived Intangible Assets, Gross	1,400	1,400
Finite-Lived Intangible Assets, Accumulated Amortization	(1,400)	(420)
Finite-Lived Intangible Assets, Net	0	$ 980
Finite-Lived Intangible Asset, Useful Life (Month)		42 months
Noncompete Agreements [Member] | Dedicated [Member]
Finite-Lived Intangible Assets, Gross	914	$ 914
Finite-Lived Intangible Assets, Accumulated Amortization	(914)	(274)
Finite-Lived Intangible Assets, Net	0	640
Noncompete Agreements [Member] | Managed Freight [Member]
Finite-Lived Intangible Assets, Gross	130	130
Finite-Lived Intangible Assets, Accumulated Amortization	(130)	(39)
Finite-Lived Intangible Assets, Net	0	91
Noncompete Agreements [Member] | Warehousing [Member]
Finite-Lived Intangible Assets, Gross	356	356
Finite-Lived Intangible Assets, Accumulated Amortization	(356)	(107)
Finite-Lived Intangible Assets, Net	0	249
Customer Relationships [Member]
Finite-Lived Intangible Assets, Gross	28,200	28,200
Finite-Lived Intangible Assets, Accumulated Amortization	(5,288)	(3,525)
Finite-Lived Intangible Assets, Net	$ 22,912	$ 24,675
Finite-Lived Intangible Asset, Useful Life (Month)	117 months	126 months
Customer Relationships [Member] | Dedicated [Member]
Finite-Lived Intangible Assets, Gross	$ 14,072	$ 14,072
Finite-Lived Intangible Assets, Accumulated Amortization	(2,638)	(1,759)
Finite-Lived Intangible Assets, Net	11,434	12,313
Customer Relationships [Member] | Managed Freight [Member]
Finite-Lived Intangible Assets, Gross	1,692	1,692
Finite-Lived Intangible Assets, Accumulated Amortization	(318)	(213)
Finite-Lived Intangible Assets, Net	1,374	1,479
Customer Relationships [Member] | Warehousing [Member]
Finite-Lived Intangible Assets, Gross	12,436	12,436
Finite-Lived Intangible Assets, Accumulated Amortization	(2,332)	(1,554)
Finite-Lived Intangible Assets, Net	$ 10,104	$ 10,883

Note 12 - Goodwill and Other _5

Note 12 - Goodwill and Other Assets - Expected Future Amortization (Details) $ in Thousands	Sep. 30, 2020USD ($)
2020 (1)	$ 1,152	[1]
2021	4,043
2022	2,350
2023	2,350
2024	2,350
2025	2,350
Thereafter	$ 10,575
[1]	Excludes the nine months ended September 30, 2020.

Note 13 - Equity (Details Textu

Note 13 - Equity (Details Textual) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Mar. 26, 2020	Feb. 10, 2020
Stock Repurchase Program, Authorized Amount					$ 20,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 2,500
Stock Repurchased During Period, Shares (in shares)	0		1,400
Stock Repurchased During Period, Value		$ 29	$ 17,515

Note 14 - Liquidity (Details Te

Note 14 - Liquidity (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Working Capital (Deficit)	$ 53,500	$ 93,100
Letters of Credit Outstanding, Amount	36,700	$ 35,200
Repayments of Debt and Lease Obligation	175,600
Lenders [Member]
Letters of Credit Outstanding, Amount	36,700
Line of Credit Facility, Remaining Borrowing Capacity	58,300
Long-term Line of Credit, Total	0
Triumph Bank [Member]
Line of Credit Facility, Remaining Borrowing Capacity	$ 45,000

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) - USD ($) $ in Millions	Oct. 23, 2020	Oct. 31, 2020	Sep. 30, 2020
Subsequent Event [Member] | Transport Financial Services [Member] | Discontinued Operations, Held-for-sale [Member]
Disposal Group, Including Discontinued Operation, Consideration Returned upon Settlement		$ 28.1
Lenders [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 95
Lenders [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 110
Line of Credit Facility, Improved Pricing, Basis Point	0.25%