Knight Transportation 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Knight Transportation Inc
Trading Symbol	knx
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		81,324,876
Amendment Flag	false
Entity Central Index Key	929,452
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Unaudite

Condensed Consolidated Unaudited Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 10,930	$ 17,066
Trade receivables, net of allowance for doubtful accounts of $2,728 and $3,355, respectively	134,960	143,531
Notes receivable, net of allowance for doubtful notes receivable of $312 and $351, respectively	804	1,020
Prepaid expenses	16,044	17,423
Assets held for sale	12,159	23,248
Other current assets	13,297	13,345
Income tax receivable	6,733	19,432
Current deferred tax assets	5,094	3,187
Total current assets	200,021	238,252
Property and Equipment:
Revenue equipment	842,767	803,410
Land and land improvements	52,605	52,531
Buildings and building improvements	127,576	125,492
Furniture and fixtures	17,623	17,322
Shop and service equipment	16,871	16,653
Leasehold improvements	3,068	3,037
Gross property and equipment	1,060,510	1,018,445
Less: accumulated depreciation and amortization	(288,756)	(266,399)
Property and equipment, net	771,754	752,046
Notes receivable, long-term	3,827	4,065
Goodwill	47,058	47,067
Intangible assets, net	3,325	3,575
Other long-term assets, restricted cash and investments	27,749	37,280
Total long-term assets	853,713	844,033
Total assets	1,053,734	1,082,285
Current Liabilities:
Accounts payable	28,074	19,122
Accrued payroll and purchased transportation	24,581	34,127
Accrued liabilities	29,287	20,604
Claims accrual – current portion	19,325	18,532
Dividend payable – current portion	303	200
Total current liabilities	101,570	92,585
Long-term Liabilities:
Claims accrual – long-term portion	12,066	11,505
Long-term dividend payable and other liabilities	2,168	2,513
Deferred tax liabilities	150,872	162,007
Long-term debt	85,000	134,400
Total long-term liabilities	250,106	310,425
Total liabilities	$ 351,676	$ 403,010
Commitments and Contingencies (Note 6)
Shareholders' Equity:
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding	$ 0	$ 0
Common stock, $0.01 par value; 300,000 shares authorized; 81,316 and 81,842 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	813	818
Additional paid-in capital	198,369	185,184
Accumulated other comprehensive income	6,178	12,231
Retained earnings	494,855	479,527
Total Knight Transportation shareholders' equity	700,215	677,760
Noncontrolling interest	1,843	1,515
Total shareholders’ equity	702,058	679,275
Total liabilities and shareholders' equity	$ 1,053,734	$ 1,082,285

Condensed Consolidated Unaudit3

Condensed Consolidated Unaudited Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts (in Dollars)	$ 2,728	$ 3,355
Allowance for doubtful notes receivable (in Dollars)	$ 312	$ 351
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000	50,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000	300,000
Common stock, shares issued	81,316	81,842
Common stock, shares outstanding	81,316	81,842

Condensed Consolidated Unaudit4

Condensed Consolidated Unaudited Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUE:
Revenue, before fuel surcharge	$ 268,623	$ 218,908	$ 525,837	$ 424,504
Fuel surcharge	33,199	45,247	66,266	88,814
Total revenue	301,822	264,155	592,103	513,318
OPERATING EXPENSES:
Salaries, wages and benefits	84,381	64,750	164,407	125,483
Fuel	42,362	52,192	80,451	104,201
Operations and maintenance	21,547	17,156	41,675	34,176
Insurance and claims	7,995	7,462	16,928	14,885
Operating taxes and licenses	4,725	3,861	10,581	7,926
Communications	1,077	1,178	2,217	2,457
Depreciation and amortization	27,364	21,951	54,524	43,738
Purchased transportation	60,619	56,319	120,164	108,288
Miscellaneous operating expenses	10,133	387	13,234	2,015
Total operating expenses	260,203	225,256	504,181	443,169
Income from operations	41,619	38,899	87,922	70,149
Interest income	104	109	236	222
Interest expense	(211)	(87)	(493)	(204)
Other income	2,436	2,591	4,899	3,457
Income before income taxes	43,948	41,512	92,564	73,624
Income taxes	15,759	15,496	34,434	28,276
Net income	28,189	26,016	58,130	45,348
Net income attributable to noncontrolling interest	(551)	(255)	(930)	(524)
Net income attributable to Knight Transportation	$ 27,638	$ 25,761	$ 57,200	$ 44,824
Basic Earnings Per Share (in Dollars per share)	$ 0.34	$ 0.32	$ 0.70	$ 0.56
Diluted Earnings Per Share (in Dollars per share)	$ 0.33	$ 0.31	$ 0.69	$ 0.55
Weighted Average Shares Outstanding – Basic (in Shares)	81,894	80,864	81,959	80,684
Weighted Average Shares Outstanding – Diluted (in Shares)	82,852	81,835	83,020	81,596

Condensed Consolidated Unaudit5

Condensed Consolidated Unaudited Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income		$ 28,189	$ 26,016	$ 58,130	$ 45,348
Other comprehensive income, net of tax:
Realized gains from available-for-sale securities reclassified to net income(1)	[1]	(1,344)	(557)	(2,782)	(557)
Unrealized (loss)/gain from changes in fair value of available-for-sale securities(2)	[2]	(3,010)	3,013	(3,271)	4,092
Comprehensive income		23,835	28,472	52,077	48,883
Comprehensive income attributable to noncontrolling interest		(551)	(255)	(930)	(524)
Comprehensive income attributable to Knight Transportation		$ 23,284	$ 28,217	$ 51,147	$ 48,359
[1]	Net of current income taxes of $849, $345, $1,757, and $345, respectively.
[2]	Net of deferred income taxes of $(1,903), $1,865, $(2,145), and $2,533, respectively.

Condensed Consolidated Unaudit6

Condensed Consolidated Unaudited Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net of current income taxes	$ 849	$ 345	$ 1,757	$ 345
Net of deferred income taxes	$ (1,903)	$ 1,865	$ (2,145)	$ 2,533

Condensed Consolidated Unaudit7

Condensed Consolidated Unaudited Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities:
Net income	$ 58,130	$ 45,348
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	54,524	43,738
Gain on sale of equipment	(9,912)	(8,881)
Gain from sale of available-for-sale securities	(4,539)	(902)
Impairment of investment in Transportation Resource Partners I		1,041
Gain from sale of Transportation Resource Partners I	(122)
Income from investment in Transportation Resource Partners III	(239)	(2,036)
Non-cash compensation expense for issuance of common stock to certain members of Board of Directors	354	200
Provision for doubtful accounts and notes receivable	803	565
Excess tax benefits related to stock-based compensation	(2,748)	(794)
Stock-based compensation expense, net	3,600	1,886
Deferred income taxes	(9,141)	(9,449)
Changes in operating assets and liabilities:
Trade receivables	7,837	(6,042)
Other current assets	49	(545)
Prepaid expenses	1,379	1,276
Income tax receivable	12,699
Other long-term assets	(1,946)	835
Accounts payable	(4,857)	7,198
Accrued liabilities and claims accrual	1,596	4,414
Net cash provided by operating activities	107,467	77,852
Cash Flows From Investing Activities:
Purchases of property and equipment	(86,930)	(109,027)
Proceeds from sale of equipment/assets held for sale	47,321	47,669
Proceeds from notes receivable	822	762
Proceeds from related party notes receivable		748
Change in restricted cash and investments	(8)	(8)
Proceeds from sale of available-for-sale securities	6,188	1,901
Investment activity in Transportation Resource Partners	251	506
Net cash used in investing activities	(32,356)	(57,449)
Cash Flows From Financing Activities:
Dividends paid	(10,135)	(9,862)
Payments to purchase company stock	(30,345)
Payments on line of credit borrowings, net	(49,400)	(22,638)
Excess tax benefits related to stock-based compensation	2,748	794
Cash distribution to noncontrolling interest holder	(603)	(341)
Proceeds from exercise of stock options	6,488	10,755
Net cash used in financing activities	(81,247)	(21,292)
Net decrease in Cash and Cash Equivalents	(6,136)	(889)
Cash and Cash Equivalents, beginning of period	17,066	992
Cash and Cash Equivalents, end of period	10,930	103
Non-cash investing and financing transactions:
Equipment acquired included in accounts payable	13,821	695
Transfer from property and equipment to assets held for sale	19,944	24,376
Financing provided to independent contractors for equipment sold	424	704
Net dividend accrued for restricted stock units	86	87
Cash flow information:
Income taxes paid	28,253	40,024
Interest expense paid	$ 529	$ 219

Note 1 - Financial Information

Note 1 - Financial Information	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Financial Information References in this Report on Form 10-Q to "we," "us," "our," "Knight," or the "Company" or similar terms refer to Knight Transportation, Inc. and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated in consolidation. The accompanying condensed consolidated unaudited financial statements of Knight Transportation, Inc. and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America and Regulation S-X, instructions to Form 10-Q, and other relevant rules and regulations of the Securities and Exchange Commission (the "SEC"), as applicable to the preparation and presentation of interim financial information. Certain information and footnote disclosures have been omitted or condensed pursuant to such rules and regulations. We believe all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results of operations in interim periods are not necessarily indicative of results for a full year. These condensed consolidated unaudited financial statements and notes thereto should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Note 2 - Stock-Based Compensati

Note 2 - Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 2. Stock-Based Compensation In May 2015, our shareholders approved the 2015 Omnibus Incentive Plan. This plan combines into a single plan the Company’s 2005 Executive Cash Bonus Plan (the “2005 Plan”) and the 2012 Equity Compensation Plan (the “2012 Plan”) and allows for future grants under the 2015 Omnibus Incentive Plan. Grants outstanding under the 2005 Plan and 2012 Plan will continue in force and effect and continue to be governed solely by the terms and conditions of the instrument evidencing such grants, and will be interpreted under the terms of the 2005 Plan and the 2012 Plan, as applicable. Since approval of the 2015 Omnibus Incentive Plan in May Three Months Ended June 30, (in thousands) Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Stock compensation expense for options, net of forfeitures $ 280 $ 188 $ 446 $ 272 Stock compensation expense for restricted stock units and performance restricted stock units, net of forfeitures 1,167 861 3,154 1,614 Total stock compensation expense $ 1,447 $ 1,049 $ 3,600 $ 1,886 Our policy is to recognize compensation expense on a straight-line basis over the requisite service period for the entire award. As of June 30, 2015, we have approximately $3.8 million of unrecognized compensation expense related to unvested options. This cost is expected to be recognized over a weighted-average period of 2.1 years and a total period of 3.9 years. We have approximately $11.9 million of unrecognized compensation expense related to restricted stock unit awards, which is anticipated to be recognized over a weighted-average period of 3.8 years and a total period of 7.6 years. We also have approximately $8.9 million of unrecognized compensation cost related to unvested performance awards. That cost is expected to be recognized over a weighted-average period of 3.2 years and total period of 3.6 years. A total of 590,141 stock options were granted during the first six months of 2015 and 394,550 stock options were granted during the first six months of 2014. We received approximately $6.5 million in cash from the exercise of stock options during the six months ended June 30, 2015, compared to $10.8 million for the same period in 2014. A summary of the option award activity under our equity compensation plans as of June 30, 2015, and changes during the six months ended June 30, 2015, is presented below: Option Totals Weighted Average Exercise Price Per Share Outstanding as of December 31, 2014 2,142,971 $ 17.80 Granted 590,141 29.81 Exercised (395,738 ) 16.33 Forfeited (56,981 ) 19.67 Outstanding as of June 30, 2015 2,280,393 21.11 The fair value of each option grant is estimated on the date of grant using the Black-Scholes option valuation model. Listed below are the weighted-average assumptions used for the fair value computation: Six Months Ended June 30, 2015 2014 Dividend yield (1) 0.80 % 1.06 % Expected volatility (2) 25.88 % 28.04 % Risk-free interest rate (3) 0.98 % 0.82 % Expected term (4) 2.74 2.74 Weighted-average fair value of options granted $ 5.00 $ 3.97 (1) Dividend yield – the dividend yield is based on our historical experience and future expectation of dividend payouts. (2) Expected volatility – we analyzed the volatility of our stock using historical data. (3) Risk-free interest rate – the risk-free interest rate assumption is based on U.S. Treasury securities at a constant maturity with a maturity period that most closely resembles the expected term of the stock option award. (4) Expected term – the expected term of employee stock options represents the weighted-average period the stock options are expected to remain outstanding and has been determined based on an analysis of historical exercise behavior. A total of 13,950 and 9,000 restricted stock unit awards were granted during the first six months of 2015 and 2014, respectively. A summary of the restricted stock unit award activity under our equity compensation plans as of June 30, 2015, and changes during the six months ended June 30, 2015, is presented below: Number of Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2014 1,073,546 $ 16.22 Granted 13,950 29.11 Vested (164,628 ) 16.18 Forfeited (12,885 ) 15.99 Unvested as of June 30, 2015 909,983 16.43 The fair value of each restricted stock unit is based on the closing market price on the date of grant. Beginning in 2014, we issued performance restricted stock units (“PRSUs”) to selected key employees that may be earned based on revenue growth and return on assets, and may then be modified based on our total shareholder return, as defined in the instrument evidencing the grant, over a three-year period. The primary award adjustment may range from 0 percent to 150 percent of the initial grant, based upon performance achieved over the three-year period. The primary award modifier, which would multiply the adjusted primary award by 75 percent to 125 percent, is measured by determining the percentile rank of the total shareholder return, as defined in the instrument evidencing the grant , of Knight common stock in relation to the total shareholder return of a peer group for the three-year period. The final award will be based on performance achieved in accordance with the scale set forth in the plan agreement. Performance restricted stock units do not earn dividend equivalents. A total of 165,720 PRSUs were granted in the six months ended June 30, 2015, and 181,112 PRSUs were granted in the six months ended June 30, 2014. A summary of the performance restricted stock unit award activity for the six months ended June 30, 2015 is presented below: Number of Performance Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2014 181,112 $ 23.85 Granted 165,720 29.30 Vested - - Cancelled (5,050 ) 26.20 Unvested as of June 30, 2015 341,782 26.46 The performance measurement period for the PRSUs granted in the six months ended June 30, 2015, is April 1, 2015 to December 31, 2017, and the performance measurement period for the PRSUs granted in the six months ended June 30, 2014, is January 1, 2014 to December 31, 2016. These awards will vest thirteen months following the expiration of the performance measurement period. The fair value of each PRSU grant is estimated on the date of grant using the Monte Carlo Simulation valuation model. Listed below are the weighted-average assumptions used for the fair value computation: Six Months Ended June 30, 2015 2014 Dividend yield (1) 0.80 % 1.06 % Expected volatility (2) 23.18 % 26.11 % Average peer volatility (2) 30.70 % 36.01 % Average peer correlation coefficient (3) 0.49 0.5796 Risk-free interest rate ( 4 ) 0.78 % 0.66 % Expected term ( 5 ) 2.63 2.80 Weighted-average fair value of PRSUs granted $ 29.30 $ 23.85 (1) The dividend yield, used to project stock price to the end of the performance period, is based on our historical experience and future expectation of dividend payouts. Total shareholder return is determined assuming that dividends are reinvested in the issuing entity over the performance period, which is mathematically equivalent to utilizing a 0% dividend yield. (2) We (or peer company) estimated volatility using our (or their) historical share price performance over the remaining performance period as of the grant date. (3) The correlation coefficients are used to model the way in which each entity tends to move in relation to each other; the correlation assumptions were developed using the same stock price data as the volatility assumptions. (4) The risk-free interest rate assumption is based on U.S. Treasury securities at a constant maturity with a maturity period that most closely resembles the expected term of the performance award. (5) Since the Monte Carlo simulation valuation is an open form model that uses an expected life commensurate with the performance period, the expected life of the PRSUs was assumed to be the period from the grant date to the end of the performance period.

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 3. Earnings Per Share A reconciliation of the basic and diluted earnings per share computations for the three months and six months ended June 30, 2015 and 2014, respectively, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except for per share data) Weighted average common shares outstanding – basic 81,894 80,864 81,959 80,684 Dilutive effect of stock options and unvested restricted stock units 958 971 1,061 912 Weighted average common shares outstanding – diluted 82,852 81,835 83,020 81,596 Net income attributable to Knight Transportation $ 27,638 $ 25,761 $ 57,200 $ 44,824 Basic Earnings Per Share $ 0.34 $ 0.32 $ 0.70 $ 0.56 Diluted Earnings per Share $ 0.33 $ 0.31 $ 0.69 $ 0.55 Certain shares of options, restricted stock units, and PRSUs (“equity awards”) were excluded from the computation of diluted earnings per share because the equity award’s exercise prices were greater than the average market price of the common shares and the sum total of assumed proceeds resulted in fewer shares repurchased than the weighted equity awards outstanding hypothetically exercised per the treasury method. The number of anti-dilutive shares are: Three Months Ended June 30, (in thousands) Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Number of anti-dilutive shares 338,898 391,825 183,788 334,232

Note 4 - Segment Information

Note 4 - Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 4. Segment Information We have two operating segments: (i) the Trucking segment comprised of three operating units (Dry Van, Refrigerated, and Drayage), and (ii) the Logistics segment comprised of two operating units (Brokerage and Intermodal). We also provide logistics, freight management and other non-trucking services through our Logistics businesses. Through our Trucking and Logistics segment capabilities, we are able to transport, or can arrange for the transportation of, general commodities for customers throughout the United States and parts of Canada and Mexico. We, in determining our reportable segments, focus on financial information such as operating revenues and expenses, operating income, operating ratios, and other key operating statistics common in the industry. The chief operating decision makers also use this information to evaluate segment performance and allocate resources to our operations. Our segments provide transportation and related services for one another. Such services are billed at cost, and no profit is earned. Such intersegment revenues and expenses are eliminated in our consolidated results. The following table sets forth revenue and operating income between the Trucking and Logistics segments for the three months and six months ended June 30, 2015 and 2014 (dollars in thousands). Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Revenues: Trucking Segment $ 245,627 81.4 $ 216,300 81.9 $ 480,917 81.2 $ 421,723 82.2 Logistics Segment 60,718 20.1 49,114 18.6 118,566 20.0 93,730 18.3 Subtotal 306,345 265,414 599,483 515,453 Intersegment Eliminations Trucking (60 ) 0.0 (32 ) 0.0 (78 ) 0.0 (61 ) 0.0 Intersegment Eliminations Logistics (4,463 ) (1.5) (1,227 ) (0.5) (7,302 ) (1.2) (2,074 ) (0.4) Total $ 301,822 100% $ 264,155 100% $ 592,103 100% $ 513,318 100% Operating Income: Trucking Segment $ 37,944 91.2 $ 35,856 92.2 $ 80,091 91.1 $ 64,977 92.6 Logistics Segment 3,675 8.8 3,043 7.8 7,831 8.9 5,172 7.4 Total $ 41,619 100% $ 38,899 100% $ 87,922 100% $ 70,149 100% Trucking Segment Information The Trucking operating units operate large, modern, company-owned tractor fleets and use independent contractors to provide various transportation solutions, including multiple stop pick-ups and deliveries, dedicated equipment and personnel, on-time expedited pick-ups and deliveries, specialized driver training and other truckload services. Revenues are generally set at a predetermined rate per mile or per load for the Trucking services. In addition, revenue streams are also generated by charging for tractor and trailer detention, loading and unloading activities, dedicated services, and other specialized services, as well as through the collection of fuel surcharges to mitigate the impact of increases in the cost of fuel. The primary measurement we use to evaluate the profitability of the Trucking segment is operating ratio, measured both on a GAAP basis (operating expenses expressed as a percentage of revenue) and non-GAAP basis used by many in our industry (operating expenses, net of Trucking fuel surcharge revenue, expressed as a percentage of Trucking revenue, excluding Trucking fuel surcharge revenue). We believe the second method allows us to more effectively compare periods while excluding the potentially volatile effect of changes in fuel prices. Non-GAAP operating ratio is not a substitute for or superior to, and should be considered in addition to, GAAP operating ratio. Pursuant to the requirements of Regulation G, the tables below compare our operating ratio using both methods. The following table sets forth the Trucking segment operating ratio on a GAAP basis (dollars in thousands). GAAP Presentation: Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Trucking Segment Revenue $ 245,627 $ 216,300 $ 480,917 $ 421,723 Operating expenses 207,683 84.6 180,444 83.4 400,826 83.3 356,746 84.6 Operating income $ 37,944 $ 35,856 $ 80,091 $ 64,977 The following table sets forth the Trucking segment operating ratio as if fuel surcharges are excluded from total revenue and instead reported as a reduction of operating expenses, excluding intersegment activity (dollars in thousands). Non-GAAP Presentation¹ Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Trucking Segment Revenue $ 245,627 $ 216,300 $ 480,917 $ 421,723 Less: Trucking fuel surcharge revenue (33,199 ) (45,247 ) (66,266 ) (88,814 ) Less: Intersegment transactions (60 ) (32 ) (78 ) (61 ) Revenue, net of fuel surcharge and intersegment transactions 212,368 171,021 414,573 332,848 Operating expenses 207,683 180,444 400,826 356,746 Less: Trucking fuel surcharge revenue (33,199 ) (45,247 ) (66,266 ) (88,814 ) Less: Intersegment transactions (60 ) (32 ) (78 ) (61 ) Operating expenses, net of fuel surcharge and intersegment transactions 174,424 82.1 135,165 79.0 334,482 80.7 267,871 80.5 Operating income $ 37,944 $ 35,856 $ 80,091 $ 64,977 (1) These items represent non-GAAP financial measures and are not substitutes for or superior to, and should be considered in addition to, the GAAP financial measures presented in the previous table. Although we believe that this non-GAAP presentation of our operating ratio can make an evaluation of our operating performance more consistent because it removes items that, in our opinion, do not reflect our core operating performance, other companies in the transportation industry may define non-GAAP operating ratio differently. As a result, it may be difficult to use non-GAAP measures that other companies may use to compare the performance of those companies to our performance. Our Trucking segment requires substantial capital expenditures for purchases of new revenue equipment. Total depreciation and amortization expense for the Trucking segment was approximately $26.4 million and $20.7 million for the three months ended June 30, 2015 and 2014, respectively. Depreciation and amortization expense for the Trucking segment was approximately $52.5 million and $41.4 million for the six months ended June 30, 2015 and 2014, respectively. Logistics Segment Information Logistics revenue is generated primarily by the Brokerage and Intermodal operating units, which charge a predetermined rate per mile or per load for arranging freight transportation for our customers. We also provide logistics, freight management and other non-trucking services through our Logistics business. Additional revenue is generated by offering specialized logistics solutions (including, but not limited to, origin management, surge volumes, disaster relief, special projects, and other logistics needs). Logistics revenue is mainly affected by the rates we are able to negotiate with customers, the freight volumes that are shipped through third-party capacity providers, and our ability to secure qualified third-party capacity providers to transport customer freight. The following table sets forth the Logistics segment revenue, operating expenses, and operating income (dollars in thousands). Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Logistics Segment Revenue $ 60,718 $ 49,114 $ 118,566 $ 93,730 Operating expenses 57,043 93.9 46,071 93.8 110,735 93.4 88,558 94.5 Operating income $ 3,675 $ 3,043 $ 7,831 $ 5,172 The following table sets forth the Logistics segment revenue, operating expenses, and operating income, excluding intersegment transactions (dollars in thousands). Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Logistics Segment Revenue $ 60,718 $ 49,114 $ 118,566 $ 93,730 Less: Intersegment transactions (4,463 ) (1,227 ) (7,302 ) (2,074 ) Revenue excluding intersegment transactions 56,255 47,887 111,264 91,656 Operating expenses 57,043 46,071 110,735 88,558 Less: Intersegment transactions (4,463 ) (1,227 ) (7,302 ) (2,074 ) Operating expenses excluding intersegment transactions 52,580 93.5 44,844 93.6 103,433 93.0 86,484 94.4 Operating income $ 3,675 $ 3,043 $ 7,831 $ 5,172 We primarily measure the Logistics segment's profitability by reviewing the gross margin percentage (revenue net of intersegment elimination), less purchased transportation expense, expressed as a percentage of revenue (net of intersegment elimination) and the operating ratio. The gross margin percentage can be affected by customer rates and the costs of securing third-party capacity providers. Our third-party capacity providers are generally not subject to long-term or predetermined contracted rates, and the operating results could be affected if the availability of third-party capacity providers or the rates for such providers change in the future. The following table lists the gross margin percentage for our Brokerage and Intermodal businesses combined. Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Combined Brokerage and Intermodal gross margin percent (1) 16.3% 14.1% 16.1% 13.6% (1) Gross margin percentage is based on revenue, net of intersegment elimination. Our Logistics segment does not require significant capital expenditures and is not asset-intensive like the Trucking segment. Total Logistics segment depreciation and amortization expense is primarily attributed to equipment leased to third parties, which was approximately $1.0 million and $1.2 million for the three months ended June 30, 2015 and 2014, respectively. Depreciation and amortization expense for the Logistics segment was approximately $2.0 million and $2.4 million for the six months ended June 30, 2015 and 2014, respectively. No segmental asset or liability information is provided as we do not prepare balance sheets by segment, and the chief operating decision makers do not review segment assets to make operating decisions.

Note 5 - Joint Ventures

Note 5 - Joint Ventures	6 Months Ended
	Jun. 30, 2015
Joint Venture [Abstract]
Joint Venture [Text Block]	Note 5. Joint Venture s In July 2014, we formed an Arizona limited liability company, Kool Trans, LLC, for the purpose of expanding our refrigerated trucking business. We are entitled to 80% of the profits of the entity and have effective control over the management of the entity. In accordance with ASC 810-10-15-8, Consolidation In 2010, we partnered with a non-related investor to form an Arizona limited liability company for the purpose of sourcing commercial vehicle parts. We contributed $26,000 to acquire 52% ownership of this entity. In accordance with ASC 810-10-15-8, Consolidation

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 6. Commitments and Contingencies We are a party to certain claims and pending litigation arising in the normal course of business. These proceedings primarily involve claims for personal injury, property damage, physical damage, and cargo loss incurred in the transportation of freight or for personnel matters, as well as certain class action litigation in which plaintiffs allege failure to provide meal and rest breaks, unpaid wages, unauthorized deductions, and other items. We are insured against auto liability claims under a self-insured retention ("SIR") policy with retention ranging from $1.0 million to $3.0 million per occurrence and in some years, depending on the applicable policy year, we have been responsible for aggregate losses up to $1.5 million. For the policy period March 1, 2015 to March 1, 2016, and February 1, 2014 to March 1, 2015, the SIR is $2.5 million with no additional responsibility for "aggregate" losses. We have secured excess liability coverage up to $105.0 million per occurrence. We also carry a $2.5 million aggregate deductible for any loss or losses that rise to the excess coverage layer. We are self-insured for workers' compensation claims up to a maximum limit of $500,000 per occurrence. We also maintain primary and excess coverage for employee medical expenses and hospitalization, with self-insured retention of $225,000 per claimant. We are a defendant in a class action lawsuit which was filed on May 8, 2008, in the California Superior Court for Tulare County. The plaintiffs, who are current and former drivers and who worked for us during the period of May 8, 2004 through the present, allege claims for failure to provide meal periods, inaccurate itemized pay statements and other items under the California Labor Code. During the second quarter of 2015, we reached a preliminary settlement with the plaintiffs. Should the settlement not be approved by the court, further negotiations may take place that could result in a different settlement, or the case may continue on to trial, which could result in a judgment for a different amount. We are also a defendant in a class action lawsuit which was filed on June 10, 2010, in the Oregon Circuit Court for Multnomah County. The plaintiffs, who are current and former drivers who worked for us during the period of June 10, 2004 through the date of the lawsuit was filed, allege the Company failed to pay minimum wage for attending pre-employment orientation and failed to pay minimum wage for work performed during certain pay periods after the start of employment. On July 2, 2015, the court, following a bench trial, issued a decision finding that we failed to pay minimum wage to some class members for work performed during certain pay periods and assessed statutory penalties and prejudgment interest related to our failure to comply with minimum wage obligations. A final judgment has not yet been entered. As a result of the California settlement and the Oregon decision, during the second quarter of 2015, we accrued a total of $7.2 million, including the plaintiffs’ estimated attorneys’ fees and related costs and excluding attorneys’ fees and costs related to our defense, in our condensed consolidated financial statements. We had previously accrued $0.2 million as of December 31, 2014 related to these cases. Based on claims resolved this quarter, and 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 likely to have a materially adverse effect on our consolidated financial statements.

Note 7 - Dividends

Note 7 - Dividends	6 Months Ended
	Jun. 30, 2015
Common Stock Dividends [Abstract]
Common Stock Dividends [Text Block]	Note 7. Dividends In May 2015, we announced a cash dividend of $0.06 per share of our common stock which was paid in in June 2015. Future payment of cash dividends, and the amount of any such dividends, will depend upon our financial condition, results of operations, cash requirements, tax treatment, and certain corporate law requirements, as well as other factors deemed relevant by our Board of Directors.

Note 8 - Property and Equipment

Note 8 - Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 8. Property and Equipment To ensure that our facilities remain modern and efficient, we periodically have facility upgrades, or new construction, in process at our various service center or corporate headquarters locations. Until these projects are completed, we consider these to be assets not yet placed in service and they are not depreciated. Once they are placed into service, we depreciate them according to our depreciation policy. At June 30, 2015 and December 31, 2014, we had approximately $6.5 million and $6.9 million, respectively, of facility construction in process assets included under "Buildings and building improvements” on the accompanying condensed consolidated balance sheets.

Note 9 - Goodwill and Intangibl

Note 9 - Goodwill and Intangibles, Net	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Note 9. Goodwill and Intangibles, net Goodwill represents the excess of the purchase price of our acquisitions over the fair value of the net assets acquired. The tax benefit from the recognition on the tax return of the amortization of the excess tax goodwill over book goodwill is treated as a reduction in the book basis of goodwill. In conjunction with our acquisitions, identifiable intangible assets subject to amortization have been recorded at fair value and are being amortized over a weighted-average amortization period of 7.6 years. The gross carrying amount of these intangible assets at June 30, 2015, and December 31, 2014 was $3.7 million, and the accumulated amortization balance was $0.4 million and $0.1 million, respectively. Amortization expense associated with these intangible assets is included in “Depreciation and amortization” on the accompanying condensed consolidated statements of income. Future amortization expense for intangible assets is estimated at $0.2 million for the remainder of 2015, and $0.5 million for each of the years 2016 through 2019. The changes in the carrying amount of goodwill, and intangible assets, for the six months ended June 30, 2015, are as follows: Goodwill Intangibles (in thousands) Balance at December 31, 2014 $ 47,067 $ 3,575 Amortization relating to deferred tax assets (9 ) - Amortization expense - (250 ) Balance at June 30, 2015 $ 47,058 $ 3,325

Note 10 - Investments and Relat

Note 10 - Investments and Related Commitments	6 Months Ended
	Jun. 30, 2015
Investments Schedule [Abstract]
Investment [Text Block]	Note 10. Investments and Related Commitments In 2003, we signed a partnership agreement with Transportation Resource Partners ("TRP"), a company that makes privately negotiated equity investments. Per the original partnership agreement, we committed to invest $5.0 million in TRP. In 2006, we increased the commitment amount to $5.5 million. We recognized a net gain of $122,000 from TRP investment activity in the second quarter of 2015.The carrying value of our investment in TRP was $477,000 at June 30, 2015 and December 31, 2014. Our investment in TRP is accounted for using the cost method, and the balance is included within "Other long-term assets, restricted cash, and investments" on our accompanying condensed consolidated balance sheets. In the fourth quarter of 2008, we formed Knight Capital Growth, LLC and committed $15.0 million to invest in a new partnership managed and operated by the managers and principals of TRP. The new partnership, Transportation Resource Partners III, LP ("TRP III"), is focused on investment opportunities similar to TRP. As of June 30, 2015, we have contributed approximately $10.9 million to TRP III, leaving an outstanding commitment of $4.1 million. Our investment in TRP III is accounted for using the equity method. For the three months ended June 30, 2015, we recorded income of approximately $121,000, for our investment in TRP III, and $1,200,000 for the three months ended June 30, 2014. The carrying value of our investment in TRP III was $5.5 million and $5.4 million as of June 30, 2015 and December 31, 2014, respectively, and is included within "Other long-term assets, restricted cash, and investments" on our accompanying condensed consolidated balance sheets. In July 2015, we committed to invest in a new partnership, TRP Capital Partners, LP. The new partnership is managed and operated by the managers and principals of TRP and TRP III, and is focused on similar investment opportunities. We committed to contribute a total of $4.9 million to the new partnership.

Note 11 - Marketable Equity Sec

Note 11 - Marketable Equity Securities	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block Supplement [Abstract]
Cash, Cash Equivalents, and Marketable Securities [Text Block]	Note 11. Marketable Equity Securities We have certain marketable equity securities classified as available-for-sale securities, which are recorded at fair value with unrealized gains and losses, net of tax, as a component of "Accumulated other comprehensive income" in shareholders' equity on the accompanying condensed consolidated balance sheets. Realized gains and losses on available-for-sale securities are included in the determination of net income. We use specific identification to determine the cost of securities sold, or amounts reclassified out of accumulated other comprehensive income into earnings and included in “Other income” on the accompanying condensed consolidated statements of income. The following table shows the Company’s realized gains during the first three month and six month periods of 2015 and 2014 on certain securities that were held as available-for-sale. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Realized gains Sales proceeds $ 3,042 $ 1,901 $ 6,188 $ 1,901 Cost of securities sold 849 999 1,649 999 Realized gain $ 2,193 $ 902 $ 4,539 $ 902 Realized gains, net of taxes $ 1,344 $ 557 $ 2,782 $ 557 As of June 30, 2015, our available-for-sale equity investments included in "Other long-term assets and restricted cash and investments" on the accompanying condensed consolidated balance sheets, was approximately $15.3 million, including gross unrealized gains of approximately $10.1 million, or $6.2 million (net of tax). As of December 31, 2014, our available-for-sale investment balance was approximately $26.9 million, including gross unrealized gains of approximately $20.0 million, or $12.2 million (net of tax).

Note 12 - Assets Held for Sale

Note 12 - Assets Held for Sale	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	Note 12. Assets Held for Sale Revenue equipment that is not utilized in continuing operations and is held for sale is classified as "Assets held for sale" on the accompanying condensed consolidated balance sheets. Assets held for sale at June 30, 2015 and December 31, 2014, totaled $12.2 million and $23.2 million, respectively. Assets held for sale are no longer subject to depreciation, and are recorded at the lower of depreciated carrying value or fair market value less selling costs. We expect to sell these assets and replace them with new assets within twelve months of being classified as "Assets held for sale."

Note 13 - Income Taxes

Note 13 - Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 13. Income Taxes We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. For interim reporting purposes, our income tax provisions are recorded based on the estimated annual effective tax rate. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent financial operations. A valuation allowance for deferred tax assets has not been deemed necessary due to our profitable operations. We recognize a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. We file federal and state income tax returns with varying statutes of limitations. The 2011 through 2014 tax years remain subject to examination by federal and most state tax authorities, and the 2010 through 2014 tax years remain subject to examination by some state tax authorities. We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our consolidated financial position, results of operations and cash flows. Our policy is to recognize interest and penalties related to unrecognized tax benefits as income tax expense. We have not recorded any unrecognized tax benefits at June 30, 2015 or December 31, 2014.

Note 14 - Company Share Repurch

Note 14 - Company Share Repurchase Programs	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block Supplement [Abstract]
Treasury Stock [Text Block]	Note 14. Company Share Repurchase Programs In May 2011, our Board of Directors unanimously authorized the repurchase of 10.0 million shares of our common stock. The repurchase authorization is intended to afford flexibility to acquire shares opportunistically in future periods and does not indicate an intention to repurchase any particular number of shares within a definite timeframe. Any repurchases would be effected based upon share price and market conditions. We repurchased 1,042,774 shares for $30.3 million under the share repurchase program in the three months ended June 30, 2015. As of June 30, 2015, there were 6,395,782 shares remaining for future purchases under our repurchase program. The repurchase authorization will remain in effect until the share limit is reached or the program is terminated.

Note 15 - Fair Value Measuremen

Note 15 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 15. Fair Value Measurement s Our assets and liabilities measured at fair value are based on principles set forth in ASC 820-10, Fair Value Measurements and Disclosure Level 1 – Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 – Unobservable inputs, only used to the extent that observable inputs are not available, reflect our assumptions about the pricing of an asset or liability. In accordance with the fair value hierarchy described above, the following table shows the fair value of our financial assets and liabilities that are required to be measured at fair value as of June 30, 2015 and December 31, 2014. Total Total Level One Level Two Level Three Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 (in thousands) Assets: Available-for-sale securities: Equity securities - common shares $ 15,279 $ 26,884 $ 15,279 $ 26,884 - - - - Restricted cash and investments: Money market funds $ 1,161 $ 1,027 $ 1,161 $ 1,027 - - - - Trading securities: Debt securities - municipal securities $ 2,111 $ 2,237 - - $ 2,111 $ 2,237 - -

Note 16 - Notes Receivable

Note 16 - Notes Receivable	6 Months Ended
	Jun. 30, 2015
Notes Receivable [Abstract]
Notes Receivable [Text Block]	Note 16. Notes Receivable We provide financing to independent contractors and third parties on equipment sold or leased under our equipment sale program. Most of the notes are collateralized and are due in weekly installments, comprised of principal and interest payments. Interest rates are determined in the contracts and generally range from 2% to 20%. The notes receivable balances are classified separately between current and long-term on the consolidated balance sheets. The current and long-term balance of our notes receivable at June 30, 2015 and December 31, 2014, are as follows: June 30, 2015 December 31, 2014 (in thousands) Notes receivable from independent contractors $ 946 $ 1,554 Notes receivable from third parties 3,997 3,882 Gross notes receivable 4,943 5,436 Allowance for doubtful notes receivable (312 ) (351 ) Total notes receivable, net of allowance 4,631 5,085 Current portion, net of allowance 804 1,020 Long-term portion $ 3,827 $ 4,065

Note 17 - Line of Credit

Note 17 - Line of Credit	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Long-term Debt [Text Block]	Note 1 7. Line of Credit We maintain a revolving line of credit which permits revolving borrowings and letters of credit. The line of credit is maintained at $300.0 million and matures December 1, 2017. We incur interest on borrowings under the line of credit at either the prime rate, or LIBOR plus 0.625%, determined by us at the time of borrowing. During the second quarter we amended the line of credit agreement to reduce our LIBOR interest rate option on borrowings under the line of credit from LIBOR plus 0.75% to LIBOR plus 0.625%. This amendment also reduces the unused commitment fee from 0.10% to 0.08%, and reduces the Letter of Credit issuance fee from 0.75% to 0.625%. We had $85.0 million outstanding under the line of credit as of June 30, 2015, compared to $134.4 million as of December 31, 2014. The weighted average variable annual percentage rate ("APR") for amounts borrowed during the six months ended June 30, 2015 was 0.92%. Borrowings under the line of credit are recorded in the "Long-term debt" line of the accompanying condensed consolidated balance sheets. As of June 30, 2015, we also utilized $26.9 million of the line of credit for letters of credit issued to various regulatory authorities in connection with our self-insurance programs. With the outstanding letters of credit and debt borrowed, we have $188.1 million available for future borrowings as of June 30, 2015. After consideration of fees incurred for the unused portion of our line of credit, our weighted average variable APR for the six months ended June 30, 2015 was 1.15%. We are obligated to comply with certain financial and other covenants under the line of credit agreement and were in compliance with such covenants at June 30, 2015 and December 31, 2014.

Note 18 - Recent Accounting Pro

Note 18 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 18. Recent Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU 2014-12, Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers

Note 2 - Stock-Based Compensa26

Note 2 - Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Note 2 - Stock-Based Compensation (Tables) [Line Items]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended June 30, (in thousands) Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Stock compensation expense for options, net of forfeitures $ 280 $ 188 $ 446 $ 272 Stock compensation expense for restricted stock units and performance restricted stock units, net of forfeitures 1,167 861 3,154 1,614 Total stock compensation expense $ 1,447 $ 1,049 $ 3,600 $ 1,886
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Option Totals Weighted Average Exercise Price Per Share Outstanding as of December 31, 2014 2,142,971 $ 17.80 Granted 590,141 29.81 Exercised (395,738 ) 16.33 Forfeited (56,981 ) 19.67 Outstanding as of June 30, 2015 2,280,393 21.11
Stock Compensation Plan [Member]
Note 2 - Stock-Based Compensation (Tables) [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2015 2014 Dividend yield (1) 0.80 % 1.06 % Expected volatility (2) 25.88 % 28.04 % Risk-free interest rate (3) 0.98 % 0.82 % Expected term (4) 2.74 2.74 Weighted-average fair value of options granted $ 5.00 $ 3.97
Restricted Stock Units (RSUs) [Member]
Note 2 - Stock-Based Compensation (Tables) [Line Items]
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2014 1,073,546 $ 16.22 Granted 13,950 29.11 Vested (164,628 ) 16.18 Forfeited (12,885 ) 15.99 Unvested as of June 30, 2015 909,983 16.43 Number of Performance Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2014 181,112 $ 23.85 Granted 165,720 29.30 Vested - - Cancelled (5,050 ) 26.20 Unvested as of June 30, 2015 341,782 26.46
Performance Shares [Member]
Note 2 - Stock-Based Compensation (Tables) [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2015 2014 Dividend yield (1) 0.80 % 1.06 % Expected volatility (2) 23.18 % 26.11 % Average peer volatility (2) 30.70 % 36.01 % Average peer correlation coefficient (3) 0.49 0.5796 Risk-free interest rate ( 4 ) 0.78 % 0.66 % Expected term ( 5 ) 2.63 2.80 Weighted-average fair value of PRSUs granted $ 29.30 $ 23.85

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except for per share data) Weighted average common shares outstanding – basic 81,894 80,864 81,959 80,684 Dilutive effect of stock options and unvested restricted stock units 958 971 1,061 912 Weighted average common shares outstanding – diluted 82,852 81,835 83,020 81,596 Net income attributable to Knight Transportation $ 27,638 $ 25,761 $ 57,200 $ 44,824 Basic Earnings Per Share $ 0.34 $ 0.32 $ 0.70 $ 0.56 Diluted Earnings per Share $ 0.33 $ 0.31 $ 0.69 $ 0.55
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, (in thousands) Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Number of anti-dilutive shares 338,898 391,825 183,788 334,232

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Note 4 - Segment Information (Tables) [Line Items]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Revenues: Trucking Segment $ 245,627 81.4 $ 216,300 81.9 $ 480,917 81.2 $ 421,723 82.2 Logistics Segment 60,718 20.1 49,114 18.6 118,566 20.0 93,730 18.3 Subtotal 306,345 265,414 599,483 515,453 Intersegment Eliminations Trucking (60 ) 0.0 (32 ) 0.0 (78 ) 0.0 (61 ) 0.0 Intersegment Eliminations Logistics (4,463 ) (1.5) (1,227 ) (0.5) (7,302 ) (1.2) (2,074 ) (0.4) Total $ 301,822 100% $ 264,155 100% $ 592,103 100% $ 513,318 100% Operating Income: Trucking Segment $ 37,944 91.2 $ 35,856 92.2 $ 80,091 91.1 $ 64,977 92.6 Logistics Segment 3,675 8.8 3,043 7.8 7,831 8.9 5,172 7.4 Total $ 41,619 100% $ 38,899 100% $ 87,922 100% $ 70,149 100%
Trucking Segment [Member]
Note 4 - Segment Information (Tables) [Line Items]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	GAAP Presentation: Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Trucking Segment Revenue $ 245,627 $ 216,300 $ 480,917 $ 421,723 Operating expenses 207,683 84.6 180,444 83.4 400,826 83.3 356,746 84.6 Operating income $ 37,944 $ 35,856 $ 80,091 $ 64,977 Non-GAAP Presentation¹ Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Trucking Segment Revenue $ 245,627 $ 216,300 $ 480,917 $ 421,723 Less: Trucking fuel surcharge revenue (33,199 ) (45,247 ) (66,266 ) (88,814 ) Less: Intersegment transactions (60 ) (32 ) (78 ) (61 ) Revenue, net of fuel surcharge and intersegment transactions 212,368 171,021 414,573 332,848 Operating expenses 207,683 180,444 400,826 356,746 Less: Trucking fuel surcharge revenue (33,199 ) (45,247 ) (66,266 ) (88,814 ) Less: Intersegment transactions (60 ) (32 ) (78 ) (61 ) Operating expenses, net of fuel surcharge and intersegment transactions 174,424 82.1 135,165 79.0 334,482 80.7 267,871 80.5 Operating income $ 37,944 $ 35,856 $ 80,091 $ 64,977
Logistics Segment [Member]
Note 4 - Segment Information (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Logistics Segment Revenue $ 60,718 $ 49,114 $ 118,566 $ 93,730 Operating expenses 57,043 93.9 46,071 93.8 110,735 93.4 88,558 94.5 Operating income $ 3,675 $ 3,043 $ 7,831 $ 5,172 Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 $ % $ % $ % $ % Logistics Segment Revenue $ 60,718 $ 49,114 $ 118,566 $ 93,730 Less: Intersegment transactions (4,463 ) (1,227 ) (7,302 ) (2,074 ) Revenue excluding intersegment transactions 56,255 47,887 111,264 91,656 Operating expenses 57,043 46,071 110,735 88,558 Less: Intersegment transactions (4,463 ) (1,227 ) (7,302 ) (2,074 ) Operating expenses excluding intersegment transactions 52,580 93.5 44,844 93.6 103,433 93.0 86,484 94.4 Operating income $ 3,675 $ 3,043 $ 7,831 $ 5,172
Brokerage and Intermodal [Member]
Note 4 - Segment Information (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Combined Brokerage and Intermodal gross margin percent (1) 16.3% 14.1% 16.1% 13.6%

Note 9 - Goodwill and Intangi29

Note 9 - Goodwill and Intangibles, Net (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Goodwill Intangibles (in thousands) Balance at December 31, 2014 $ 47,067 $ 3,575 Amortization relating to deferred tax assets (9 ) - Amortization expense - (250 ) Balance at June 30, 2015 $ 47,058 $ 3,325

Note 11 - Marketable Equity S30

Note 11 - Marketable Equity Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block Supplement [Abstract]
Schedule of Realized Gain (Loss) [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Realized gains Sales proceeds $ 3,042 $ 1,901 $ 6,188 $ 1,901 Cost of securities sold 849 999 1,649 999 Realized gain $ 2,193 $ 902 $ 4,539 $ 902 Realized gains, net of taxes $ 1,344 $ 557 $ 2,782 $ 557

Note 15 - Fair Value Measurem31

Note 15 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring [Table Text Block]	Total Total Level One Level Two Level Three Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 Balance at June 30, 2015 Balance at December 31, 2014 (in thousands) Assets: Available-for-sale securities: Equity securities - common shares $ 15,279 $ 26,884 $ 15,279 $ 26,884 - - - - Restricted cash and investments: Money market funds $ 1,161 $ 1,027 $ 1,161 $ 1,027 - - - - Trading securities: Debt securities - municipal securities $ 2,111 $ 2,237 - - $ 2,111 $ 2,237 - -

Note 16 - Notes Receivable (Tab

Note 16 - Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Receivable [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, 2015 December 31, 2014 (in thousands) Notes receivable from independent contractors $ 946 $ 1,554 Notes receivable from third parties 3,997 3,882 Gross notes receivable 4,943 5,436 Allowance for doubtful notes receivable (312 ) (351 ) Total notes receivable, net of allowance 4,631 5,085 Current portion, net of allowance 804 1,020 Long-term portion $ 3,827 $ 4,065

Note 2 - Stock-Based Compensa33

Note 2 - Stock-Based Compensation (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 3,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	590,141	394,550
Proceeds from Stock Options Exercised	$ 6,488	$ 10,755
Employee Stock Option [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 328 days
Restricted Stock Units (RSUs) [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	7 years 219 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 11,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	13,950	9,000
Performance Shares [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 219 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 8,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	165,720	181,112
Share-based Compensation Arrangement by Share-based Payment Award, Payout Range, Lower Limit	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Payout Range, Upper Limit	150.00%
Share-based Compensation Arrangement by Share-based Payment Award, Payout Modifier Range, Lower Limit	75.00%
Share-based Compensation Arrangement by Share-based Payment Award, Payout Modifier Range, Upper Limit	125.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	13 months
Weighted Average [Member] | Employee Stock Option [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 36 days
Weighted Average [Member] | Restricted Stock Units (RSUs) [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 292 days
Weighted Average [Member] | Performance Shares [Member]
Note 2 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 73 days

Note 2 - Stock-Based Compensa34

Note 2 - Stock-Based Compensation (Details) - Stock-Based Compensation Cost - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 1,447	$ 1,049	$ 3,600	$ 1,886
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	280	188	446	272
RSU and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock compensation expense	$ 1,167	$ 861	$ 3,154	$ 1,614

Note 2 - Stock-Based Compensa35

Note 2 - Stock-Based Compensation (Details) - Summary of Option Award Activity under Equity Compensation Plan - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Summary of Option Award Activity under Equity Compensation Plan [Abstract]
Outstanding as of December 31, 2014	2,142,971
Outstanding as of December 31, 2014	$ 17.80
Granted	590,141	394,550
Granted	$ 29.81
Exercised	(395,738)
Exercised	$ 16.33
Forfeited	(56,981)
Forfeited	$ 19.67
Outstanding as of June 30, 2015	2,280,393
Outstanding as of June 30, 2015	$ 21.11

Note 2 - Stock-Based Compensa36

Note 2 - Stock-Based Compensation (Details) - Fair Value Assumptions - Stock Options - Stock Compensation Plan [Member] - $ / shares		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Note 2 - Stock-Based Compensation (Details) - Fair Value Assumptions - Stock Options [Line Items]
Dividend yield (1)	[1]	0.80%	1.06%
Expected volatility (2)	[2]	25.88%	28.04%
Risk-free interest rate (3)	[3]	0.98%	0.82%
Expected term (4) (years)	[4]	2 years 270 days	2 years 270 days
Weighted-average fair value of options granted (in Dollars per share)		$ 5	$ 3.97
[1]	Dividend yield - the dividend yield is based on our historical experience and future expectation of dividend payouts.
[2]	Expected volatility - we analyzed the volatility of our stock using historical data.
[3]	Risk-free interest rate - the risk-free interest rate assumption is based on U.S. Treasury securities at a constant maturity with a maturity period that mostclosely resembles the expected term of the stock option award.
[4]	Expected term - the expected term of employee stock options represents the weighted-average period the stock options are expected to remain outstandingand has been determined based on an analysis of historical exercise behavior.

Note 2 - Stock-Based Compensa37

Note 2 - Stock-Based Compensation (Details) - Summary of Restricted Stock Unit Award Activity under Equity Compensation Plan - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Restricted Stock Units (RSUs) [Member]
Note 2 - Stock-Based Compensation (Details) - Summary of Restricted Stock Unit Award Activity under Equity Compensation Plan [Line Items]
Unvested, Beginning of Period	1,073,546
Unvested, Weighted Average Grant Date Fair Value, Beginning of Period	$ 16.22
Granted, Number	13,950	9,000
Granted, Weighted Average Grant Date Fair Value	$ 29.11
Vested, Number	(164,628)
Vested, Weighted Average Grant Date Fair Value	$ 16.18
Forfeited/Cancelled, Number	(12,885)
Forfeited/Cancelled, Weighted Average Grant Date Fair Value	$ 15.99
Unvested, End of Period	909,983
Unvested, Weighted Average Grant Date Fair Value, End of Period	$ 16.43
Performance Shares [Member]
Note 2 - Stock-Based Compensation (Details) - Summary of Restricted Stock Unit Award Activity under Equity Compensation Plan [Line Items]
Unvested, Beginning of Period	181,112
Unvested, Weighted Average Grant Date Fair Value, Beginning of Period	$ 23.85
Granted, Number	165,720	181,112
Granted, Weighted Average Grant Date Fair Value	$ 29.30	$ 23.85
Forfeited/Cancelled, Number	(5,050)
Forfeited/Cancelled, Weighted Average Grant Date Fair Value	$ 26.20
Unvested, End of Period	341,782
Unvested, Weighted Average Grant Date Fair Value, End of Period	$ 26.46

Note 2 - Stock-Based Compensa38

Note 2 - Stock-Based Compensation (Details) - Fair Value Assumptions, PRSU - Performance Shares [Member] - $ / shares		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Note 2 - Stock-Based Compensation (Details) - Fair Value Assumptions, PRSU [Line Items]
Dividend yield (1)	[1]	0.80%	1.06%
Expected volatility (2)	[2]	23.18%	26.11%
Average peer volatility (2)	[2]	30.70%	36.01%
Average peer correlation coefficient (3)	[3]	0.49%	0.5796%
Risk-free interest rate (4)	[4]	0.78%	0.66%
Expected term (5)	[5]	2 years 229 days	2 years 292 days
Weighted-average fair value of PRSUs granted (in Dollars per share)		$ 29.30	$ 23.85
[1]	The dividend yield, used to project stock price to the end of the performance period, is based on our historical experience and future expectation of dividendpayouts. Total shareholder return is determined assuming that dividends are reinvested in the issuing entity over the performance period, which ismathematically equivalent to utilizing a 0% dividend yield.
[2]	We (or peer company) estimated volatility using our (or their) historical share price performance over the remaining performance period as of the grant date.
[3]	The correlation coefficients are used to model the way in which each entity tends to move in relation to each other; the correlation assumptions were developed using the same stock price data as the volatility assumptions.
[4]	The risk-free interest rate assumption is based on U.S. Treasury securities at a constant maturity with a maturity period that most closely resembles the expected term of the performance award.
[5]	Since the Monte Carlo simulation valuation is an open form model that uses an expected life commensurate with the performance period, the expected life of the PRSUs was assumed to be the period from the grant date to the end of the performance period.

Note 3 - Earnings Per Share (De

Note 3 - Earnings Per Share (Details) - Reconciliation of Basic and Diluted Earnings Per Share Computation - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of Basic and Diluted Earnings Per Share Computation [Abstract]
Weighted average common shares outstanding – basic	81,894	80,864	81,959	80,684
Dilutive effect of stock options and unvested restricted stock units	958	971	1,061	912
Weighted average common shares outstanding – diluted	82,852	81,835	83,020	81,596
Net income attributable to Knight Transportation (in Dollars)	$ 27,638	$ 25,761	$ 57,200	$ 44,824
Basic Earnings Per Share (in Dollars per share)	$ 0.34	$ 0.32	$ 0.70	$ 0.56
Diluted Earnings per Share (in Dollars per share)	$ 0.33	$ 0.31	$ 0.69	$ 0.55

Note 3 - Earnings Per Share (40

Note 3 - Earnings Per Share (Details) - Summary of Anti-dilutive Common Shares - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary of Anti-dilutive Common Shares [Abstract]
Number of anti-dilutive shares	338,898	391,825	183,788	334,232

Note 4 - Segment Information (D

Note 4 - Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Note 4 - Segment Information (Details) [Line Items]
Number of Operating Segments			2
Depreciation, Depletion and Amortization			$ 54,524	$ 43,738
Trucking Segment [Member]
Note 4 - Segment Information (Details) [Line Items]
Number of Operating Segments			3
Depreciation, Depletion and Amortization	$ 26,400	$ 20,700	$ 52,500	41,400
Logistics Segment [Member]
Note 4 - Segment Information (Details) [Line Items]
Number of Operating Segments			2
Depreciation, Depletion and Amortization	$ 1,000	$ 1,200	$ 2,000	$ 2,400

Note 4 - Segment Information 42

Note 4 - Segment Information (Details) - Revenue and Operating Income Between Assets-Based and Non-Asset-Based Segments - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Revenues		$ 301,822	$ 264,155	$ 592,103	$ 513,318
Percentage of revenues		100.00%	100.00%	100.00%	100.00%
Operating Income:
Operating income		$ 41,619	$ 38,899	$ 87,922	$ 70,149
Percentage of operating income		100.00%	100.00%	100.00%	100.00%
Operating Segments [Member]
Revenues:
Revenues		$ 306,345	$ 265,414	$ 599,483	$ 515,453
Trucking Segment [Member] | Operating Segments [Member]
Revenues:
Revenues	[1]	$ 245,627	$ 216,300	$ 480,917	$ 421,723
Percentage of revenues		81.40%	81.90%	81.20%	82.20%
Operating Income:
Operating income		$ 37,944	$ 35,856	$ 80,091	$ 64,977
Percentage of operating income		91.20%	92.20%	91.10%	92.60%
Trucking Segment [Member] | Intersegment Eliminations [Member]
Revenues:
Revenues		$ (60)	$ (32)	$ (78)	$ (61)
Percentage of revenues		0.00%	0.00%	0.00%	0.00%
Logistics Segment [Member] | Operating Segments [Member]
Revenues:
Revenues		$ 60,718	$ 49,114	$ 118,566	$ 93,730
Percentage of revenues		20.10%	18.60%	20.00%	18.30%
Operating Income:
Operating income		$ 3,675	$ 3,043	$ 7,831	$ 5,172
Percentage of operating income		8.80%	7.80%	8.90%	7.40%
Logistics Segment [Member] | Intersegment Eliminations [Member]
Revenues:
Revenues		$ (4,463)	$ (1,227)	$ (7,302)	$ (2,074)
Percentage of revenues		(1.50%)	(0.50%)	(1.20%)	(0.40%)
[1]	These items represent non-GAAP financial measures and are not substitutes for or superior to, and should be considered in addition to, the GAAP financial measures presented in the previous table. Although we believe that this non-GAAP presentation of our operating ratio can make an evaluation of our operating performance more consistent because it removes items that, in our opinion, do not reflect our core operating performance, other companies in the transportation industry may define non-GAAP operating ratio differently. As a result, it may be difficult to use non-GAAP measures that other companies may use to compare the performance of those companies to our performance.

Note 4 - Segment Information 43

Note 4 - Segment Information (Details) - Reconciliation of Revenue from Segments to Consolidated, Asset-Based - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Trucking Segment
Revenue		$ 301,822	$ 264,155	$ 592,103	$ 513,318
Revenue, net of fuel surcharge and intersegment transactions		268,623	218,908	525,837	424,504
Less: Trucking fuel surcharge revenue		(33,199)	(45,247)	(66,266)	(88,814)
Operating expenses		260,203	225,256	504,181	443,169
Operating income		41,619	38,899	87,922	70,149
Trucking Segment [Member] | Intersubsegment Eliminations [Member]
Trucking Segment
Revenue	[1]	(60)	(32)	(78)	(61)
Less: Trucking fuel surcharge revenue	[1]	(33,199)	(45,247)	(66,266)	(88,814)
Operating Segments [Member]
Trucking Segment
Revenue		306,345	265,414	599,483	515,453
Operating Segments [Member] | Trucking Segment [Member]
Trucking Segment
Revenue	[1]	245,627	216,300	480,917	421,723
Revenue, net of fuel surcharge and intersegment transactions	[1]	212,368	171,021	414,573	332,848
Operating expenses, net of fuel surcharge and intersegment transactions	[1]	$ 174,424	$ 135,165	$ 334,482	$ 267,871
Operating expenses, net of fuel surcharge and intersegment transactions	[1]	82.10%	79.00%	80.70%	80.50%
Less: Trucking fuel surcharge revenue	[1]	$ (33,199)	$ (45,247)	$ (66,266)	$ (88,814)
Operating expenses	[1]	$ 207,683	$ 180,444	$ 400,826	$ 356,746
Operating expenses, net percentage		84.60%	83.40%	83.30%	84.60%
Operating income		$ 37,944	$ 35,856	$ 80,091	$ 64,977
Operating Segments [Member] | Trucking Segment [Member] | Intersubsegment Eliminations [Member]
Trucking Segment
Revenue	[1]	(60)	(32)	(78)	(61)
Operating Segments [Member] | Trucking Segment [Member] | Reportable Subsegments [Member]
Trucking Segment
Operating income	[1]	$ 37,944	$ 35,856	$ 80,091	$ 64,977
[1]	These items represent non-GAAP financial measures and are not substitutes for or superior to, and should be considered in addition to, the GAAP financial measures presented in the previous table. Although we believe that this non-GAAP presentation of our operating ratio can make an evaluation of our operating performance more consistent because it removes items that, in our opinion, do not reflect our core operating performance, other companies in the transportation industry may define non-GAAP operating ratio differently. As a result, it may be difficult to use non-GAAP measures that other companies may use to compare the performance of those companies to our performance.

Note 4 - Segment Information 44

Note 4 - Segment Information (Details) - Reconciliation of Revenue from Segments to Consolidated, Non-Asset-Based - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Logistics Segment
Revenue	$ 268,623	$ 218,908	$ 525,837	$ 424,504
Operating expenses	260,203	225,256	504,181	443,169
Operating income	41,619	38,899	87,922	70,149
Logistics Segment [Member] | Intersubsegment Eliminations [Member]
Logistics Segment
Revenue	(4,463)	(1,227)	(7,302)	(2,074)
Logistics Segment [Member] | Reportable Subsegments [Member]
Logistics Segment
Revenue	56,255	47,887	111,264	91,656
Operating expenses	$ 52,580	$ 44,844	$ 103,433	$ 86,484
Operating expenses, percentage	93.50%	93.60%	93.00%	94.40%
Operating income	$ 3,675	$ 3,043	$ 7,831	$ 5,172
Operating Segments [Member] | Logistics Segment [Member]
Logistics Segment
Revenue	60,718	49,114	118,566	93,730
Operating expenses	$ 57,043	$ 46,071	$ 110,735	$ 88,558
Operating expenses, percentage	93.90%	93.80%	93.40%	94.50%
Operating income	$ 3,675	$ 3,043	$ 7,831	$ 5,172

Note 4 - Segment Information 45

Note 4 - Segment Information (Details) - Gross Margin Percentage of Segments		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Brokerage and Intermodal [Member]
Segment Reporting Information [Line Items]
Combined Brokerage and Intermodal gross margin percent(1)	[1]	16.30%	14.10%	16.10%	13.60%
[1]	Gross margin percentage is based on revenue, net of intersegment elimination.

Note 5 - Joint Ventures (Detail

Note 5 - Joint Ventures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2010	Jun. 30, 2015
Kool Trans, LLC [Member]
Note 5 - Joint Ventures (Details) [Line Items]
Joint Venture, Percentage of Profits Entitled to Reporting Entity		80.00%
Non-related Investor [Member]
Note 5 - Joint Ventures (Details) [Line Items]
Payments to Acquire Interest in Joint Venture (in Dollars)	$ 26,000
Joint Venture Ownership Interest	52.00%

Note 6 - Commitments and Cont47

Note 6 - Commitments and Contingencies (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Note 6 - Commitments and Contingencies (Details) [Line Items]
Excess Personal Injury and Property Damage Liability Insurance	$ 105,000,000	$ 105,000,000
Insurance, Aggregate Deductible Amount		2,500,000
Self-insurance Retention for Workers' Compensation Claims Per Occurrence	500,000	500,000
Self Retention for Employee Medical Health	225,000	225,000
Litigation Settlement, Expense	7,200,000
Minimum [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Self-insurance Retention	1,000,000	1,000,000
Maximum [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Self-insurance Retention	3,000,000	3,000,000
Self-insurance, Aggregate Losses	1,500,000	1,500,000
Policy Period March 1, 2015 to March 1, 2016 [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Self-insurance Retention			$ 2,500,000
Policy Period February 1, 2014 to March 1, 2015 [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Self-insurance Retention	$ 2,500,000	$ 2,500,000
Previous Policy Year [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]
Estimated Litigation Liability				$ 200,000

Note 7 - Dividends (Details)

Note 7 - Dividends (Details) - $ / shares	1 Months Ended
	Jun. 30, 2015	May. 31, 2015
Common Stock Dividends [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.06
Common Stock, Dividends, Per Share, Declared		$ 0.06

Note 8 - Property and Equipme49

Note 8 - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Note 8 - Property and Equipment (Details) [Line Items]
Property, Plant and Equipment, Gross	$ 1,060,510	$ 1,018,445
Building and Building Improvements [Member]
Note 8 - Property and Equipment (Details) [Line Items]
Property, Plant and Equipment, Gross	$ 6,500	$ 6,900

Note 9 - Goodwill and Intangi50

Note 9 - Goodwill and Intangibles, Net (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years 219 days
Finite-Lived Intangible Assets, Gross	$ 3.7	$ 3.7
Finite-Lived Intangible Assets, Accumulated Amortization	0.4	$ 0.1
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	0.2
Finite-Lived Intangible Assets, Amortization Expense, Year Two	0.5
Finite-Lived Intangible Assets, Amortization Expense, Year Three	0.5
Finite-Lived Intangible Assets, Amortization Expense, Year Four	0.5
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 0.5

Note 9 - Goodwill and Intangi51

Note 9 - Goodwill and Intangibles, Net (Details) - Changes in Carrying Amount of Goodwill and Intangible Assets $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Changes in Carrying Amount of Goodwill and Intangible Assets [Abstract]
Balance at December 31, 2014	$ 47,067
Balance at December 31, 2014	3,575
Amortization relating to deferred tax assets	(9)
Amortization expense	(250)
Balance at June 30, 2015	47,058
Balance at June 30, 2015	$ 3,325

Note 10 - Investments and Rel52

Note 10 - Investments and Related Commitments (Details) - USD ($)	3 Months Ended		78 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jul. 31, 2015	Dec. 31, 2014	Dec. 31, 2008	Dec. 31, 2006	Dec. 31, 2003
Transportation Resource Partners [Member]
Note 10 - Investments and Related Commitments (Details) [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures								$ 5,000,000
Amounts Committed To Invest							$ 5,500,000
Realized Investment Gains (Losses)	$ 122,000
Investments	477,000		$ 477,000
Transportation Resource Partners III [Member]
Note 10 - Investments and Related Commitments (Details) [Line Items]
Amounts Committed To Invest						$ 15,000,000
Realized Investment Gains (Losses)	121,000	$ 1,200,000
Payments for (Proceeds from) Investments			10,900,000
Remaining Investment Commitment	4,100,000		4,100,000
Equity Method Investments	$ 5,500,000		$ 5,500,000		$ 5,400,000
Transportation Resource Partners IV [Member] | Subsequent Event [Member]
Note 10 - Investments and Related Commitments (Details) [Line Items]
Amounts Committed To Invest				$ 4,900,000

Note 11 - Marketable Equity S53

Note 11 - Marketable Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]
Available-for-sale Securities	$ 15.3	$ 26.9
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax	10.1	20
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), Net of Tax	$ 6.2	$ 12.2

Note 11 - Marketable Equity S54

Note 11 - Marketable Equity Securities (Details) - Realized Gains on Available-for-Sale Securities - Other Income [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Realized gains
Sales proceeds	$ 3,042	$ 1,901	$ 6,188	$ 1,901
Cost of securities sold	849	999	1,649	999
Realized gain	2,193	902	4,539	902
Realized gains, net of taxes	$ 1,344	$ 557	$ 2,782	$ 557

Note 12 - Assets Held for Sale

Note 12 - Assets Held for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]
Disposal Group, Including Discontinued Operation, Assets, Current	$ 12,159	$ 23,248

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015
Earliest Tax Year [Member] | Domestic Tax Authority [Member]
Note 13 - Income Taxes (Details) [Line Items]
Open Tax Year	2,011
Earliest Tax Year [Member] | State and Local Jurisdiction [Member]
Note 13 - Income Taxes (Details) [Line Items]
Open Tax Year	2,010
Latest Tax Year [Member] | Domestic Tax Authority [Member]
Note 13 - Income Taxes (Details) [Line Items]
Open Tax Year	2,014
Latest Tax Year [Member] | State and Local Jurisdiction [Member]
Note 13 - Income Taxes (Details) [Line Items]
Open Tax Year	2,014

Note 14 - Company Share Repur57

Note 14 - Company Share Repurchase Programs (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	May. 19, 2011
Disclosure Text Block Supplement [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		10,000,000
Treasury Stock, Shares, Acquired	1,042,774
Treasury Stock, Value, Acquired, Cost Method (in Dollars)	$ 30.3
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	6,395,782

Note 15 - Fair Value Measurem58

Note 15 - Fair Value Measurements (Details) - Fair Value of Financial Assets and Liabilities - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available-for-sale securities:
Equity securities - common shares	$ 15,279	$ 26,884
Restricted cash and investments:
Money market funds	1,161	1,027
Trading securities:
Debt securities - municipal securities	2,111	2,237
Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities:
Equity securities - common shares	15,279	26,884
Restricted cash and investments:
Money market funds	1,161	1,027
Fair Value, Inputs, Level 2 [Member]
Trading securities:
Debt securities - municipal securities	$ 2,111	$ 2,237

Note 16 - Notes Receivable (Det

Note 16 - Notes Receivable (Details)	6 Months Ended
	Jun. 30, 2015
Notes Receivable [Abstract]
Interest on Note Receivable Minimum	2.00%
Interest on Note Receivable, Maximum	20.00%

Note 16 - Notes Receivable (D60

Note 16 - Notes Receivable (Details) - Current and Long-term Balance of Notes Receivable - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current and Long-term Balance of Notes Receivable [Abstract]
Notes receivable from independent contractors	$ 946	$ 1,554
Notes receivable from third parties	3,997	3,882
Gross notes receivable	4,943	5,436
Allowance for doubtful notes receivable	(312)	(351)
Total notes receivable, net of allowance	4,631	5,085
Current portion, net of allowance	804	1,020
Long-term portion	$ 3,827	$ 4,065

Note 17 - Line of Credit (Detai

Note 17 - Line of Credit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Revolving Credit Facility [Member]
Note 17 - Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)	$ 300		$ 300
Line of Credit Facility, Interest Rate During Period			0.92%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.08%	0.10%
Line of Credit Facility, Letter of Credit Issuance Fee	0.625%	0.75%
Long-term Line of Credit (in Dollars)	$ 85		$ 85	$ 134.4
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars)	188.1		188.1
Letter of Credit [Member]
Note 17 - Line of Credit (Details) [Line Items]
Long-term Line of Credit (in Dollars)	$ 26.9		$ 26.9
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Note 17 - Line of Credit (Details) [Line Items]
Line of Credit Facility, Interest Rate During Period	0.625%	0.75%
Unused Portion Fees [Member] | Revolving Credit Facility [Member]
Note 17 - Line of Credit (Details) [Line Items]
Line of Credit Facility, Interest Rate During Period			1.15%