Knight Transportation 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document Information [Line Items]
Entity Registrant Name	KNIGHT TRANSPORTATION INC
Entity Central Index Key	929,452
Trading Symbol	knx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		80,420,146
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Unaudite

Condensed Consolidated Unaudited Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 44,777	$ 8,021
Trade receivables, net of allowance for doubtful accounts of $2,555 and $2,727, respectively	127,624	142,167
Notes receivable, net of allowance for doubtful notes receivable of $233 and $240, respectively	546	560
Prepaid expenses	14,239	13,244
Assets held for sale	12,550	9,634
Other current assets	8,174	8,159
Income tax receivable	2,263	8,406
Total current assets	210,173	190,191
Property and Equipment:
Revenue equipment	898,081	910,042
Land and land improvements	54,777	54,106
Buildings and building improvements	146,971	145,866
Furniture and fixtures	21,396	20,241
Shop and service equipment	17,081	16,859
Leasehold improvements	4,728	4,735
Gross property and equipment	1,143,034	1,151,849
Less: accumulated depreciation and amortization	(363,963)	(348,991)
Property and equipment, net	779,071	802,858
Notes receivable, long-term	2,840	3,047
Goodwill	47,026	47,031
Intangible assets, net	2,450	2,575
Other long-term assets, restricted cash and investments	28,193	32,823
Total long-term assets	859,580	888,334
Total assets	1,069,753	1,078,525
Current Liabilities:
Accounts payable	10,884	18,006
Accrued payroll and purchased transportation	22,144	25,017
Accrued liabilities	20,185	16,722
Claims accrual - current portion	19,476	18,633
Dividend payable - current portion	290	272
Total current liabilities	72,979	78,650
Long-term Liabilities:
Claims accrual - long-term portion	13,886	13,290
Long-term dividend payable and other liabilities	1,569	1,854
Deferred tax liabilities	180,910	178,000
Long-term debt		18,000
Total long-term liabilities	196,365	211,144
Total liabilities	269,344	289,794
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; 80,399 and 80,229 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	804	802
Additional paid-in capital	226,779	223,267
Retained earnings	570,826	562,404
Total Knight Transportation shareholders' equity	798,409	786,473
Noncontrolling interest	2,000	2,258
Total shareholders' equity	800,409	788,731
Total liabilities and shareholders' equity	$ 1,069,753	$ 1,078,525

Condensed Consolidated Unaudit3

Condensed Consolidated Unaudited Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 2,555	$ 2,727
Allowance for doubtful notes receivable	$ 233	$ 240
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	80,399	80,299
Common stock, shares outstanding (in shares)	80,399	80,299

Condensed Consolidated Unaudit4

Condensed Consolidated Unaudited Statements of Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
REVENUE:
Revenue, before fuel surcharge		$ 244,980	$ 253,583
Fuel surcharge		26,202	18,505
Total revenue		271,182	272,088
OPERATING EXPENSES:
Salaries, wages and benefits		82,510	83,603
Fuel		35,232	26,771
Operations and maintenance		20,653	18,010
Insurance and claims		8,571	8,823
Operating taxes and licenses		4,431	5,487
Communications		1,186	1,205
Depreciation and amortization		29,682	28,402
Purchased transportation		58,625	57,785
Miscellaneous operating expenses		7,654	3,275
Total operating expenses		248,544	233,361
Operating income		22,638	38,727
Interest income		58	94
Interest expense		(82)	(301)
Other income		722	1,286
Income before income taxes		23,336	39,806
Income taxes		8,230	16,336
Net income		15,106	23,470
Net income attributable to noncontrolling interest		(230)	(453)
Net income attributable to Knight Transportation	[1]	$ 14,876	$ 23,017
Earnings per share:
Basic (in dollars per share)		$ 0.19	$ 0.29
Diluted (in dollars per share)		0.18	0.28
Dividends declared per share (in dollars per share)		$ 0.06	$ 0.06
Weighted Average Shares Outstanding:
Basic (in shares)		80,310	80,707
Diluted (in shares)		81,255	81,468
[1]	We early adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting during the fourth quarter of 2016. The adoption of this standard resulted in the recognition of $1.8 million of excess tax benefits to the income tax provision for the year ended December 31, 2016. Net income and shares outstanding data for the three months ended March 31, 2016 are presented as if the ASU was adopted at the beginning of 2016.

Condensed Consolidated Unaudit5

Condensed Consolidated Unaudited Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Net income		$ 15,106	$ 23,470
Other comprehensive income, net of tax:
Realized gains from available-for-sale securities reclassified to net income(1)	[1]		(981)
Unrealized gain from changes in fair value of available-for-sale securities(2)	[2]		123
Comprehensive income		15,106	22,612
Comprehensive income attributable to noncontrolling interest		(230)	(453)
Comprehensive income attributable to Knight Transportation		$ 14,876	$ 22,159
[1]	Net of current income tax expense of $0, and $614, respectively.
[2]	Net of deferred income tax expense of $0, and $76, respectively.

Condensed Consolidated Unaudit6

Condensed Consolidated Unaudited Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net of current income taxes	$ 0	$ 614
Net of deferred income taxes	$ 0	$ 76

Condensed Consolidated Unaudit7

Condensed Consolidated Unaudited Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities:
Net income	$ 15,106	$ 23,470
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29,682	28,402
Gain on sale of equipment	(807)	(3,195)
Gain from sale of available-for-sale securities		(1,595)
Transportation Resource Partners impairment	53
(Income)/loss from investment in Transportation Resource Partners	(776)	308
Provision for doubtful accounts and notes receivable	(61)	28
Stock-based compensation expense, net	1,419	780
Deferred income taxes	2,909	1,431
Changes in operating assets and liabilities:
Trade receivables	14,600	28
Other current assets	(15)	5,853
Prepaid expenses	(995)	662
Income tax receivable	6,143	14,269
Other long-term assets	64	(149)
Accounts payable	(3,841)	4,151
Accrued liabilities	564	(6,316)
Claims accrual	1,439	1,248
Net cash provided by operating activities	65,484	69,375
Cash Flows From Investing Activities:
Purchases of property and equipment	(17,017)	(34,783)
Proceeds from sale of equipment/assets held for sale	5,442	23,065
Proceeds from notes receivable	641	412
Change in restricted cash and investments	(21)	(16)
Proceeds from sale of available-for-sale securities		2,852
Cash payments to Transportation Resource Partners		(10,974)
Cash proceeds from Transportation Resource Partners	5,315	423
Net cash used in investing activities	(5,640)	(19,021)
Cash Flows From Financing Activities:
Dividends paid	(5,091)	(5,129)
Payments to repurchase company stock		(27,111)
Payments on line of credit borrowings, net	(18,000)	(6,000)
Shares withheld for employee taxes related to stock-based compensation	(1,603)	(1,339)
Cash distribution to noncontrolling interest holder	(488)	(610)
Proceeds from exercise of stock options	2,094	2,616
Net cash used in financing activities	(23,088)	(37,573)
Net increase in Cash and Cash Equivalents	36,756	12,781
Cash and Cash Equivalents, beginning of period	8,021	8,691
Cash and Cash Equivalents, end of period	44,777	21,472
Non-cash investing and financing transactions:
Equipment acquired included in accounts payable	364	9,840
Transfer from property and equipment to assets held for sale	7,700	12,857
Financing provided to independent contractors for equipment sold	584	87
Net dividend accrued for restricted stock units	31	33
Cash flow information:
Income taxes (refunds)/payments	(858)	616
Interest expense paid	$ 84	$ 306

Note 1 - Financial Information

Note 1 - Financial Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. References in this Report on Form 10 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 10 December 31, 2016. D uring the fourth 2016 , w e early adopted Accounting Standards Update No. 2016 09, Compensation - Stock Compensation (Topic 718): 2016 09). The standard requires us to reflect any adoption adjustments as of the beginning of the annual period that includes the interim period of adoption. As such, our condensed consolidated statements of income, statements of comprehensive income and statements of cash flows for the three March 31, 2016, 2016 09 1—Significant 10 December 31, 2016

Note 2 - Stock-based Compensati

Note 2 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 2. In May 2015, 2015 “2015 2005 “2005 2012 “2012 2015 2005 2012 2005 2012 2015 May 2015, 2015 three March 31, 2017, 2016, Three Months Ended March 31, (in thousands) 2017 2016 Stock compensation expense for options, net of forfeitures $ 347 $ 371 Stock compensation expense for restricted stock units and performance restricted stock units, net of forfeitures 1,072 409 Total stock compensation expense, net of forfeitures $ 1,419 $ 780 Our policy is to recognize compensation expense on a straight-line basis over the requisite service period for the entire award. As of March 31, 2017, $2.8 1.7 2.9 $7.7 3.2 5.8 $2.3 2.2 2.8 No stock options were granted in the three March 31, 2017, 569,480 three March 31, 2016. $2.1 three March 31, 2017, $2.6 2016. A summary of the option award activity under our equity compensation plans for the three March 31, 2017 Option Totals Weighted Average Exercise Price Per Share Outstanding as of December 31, 2016 1,737,400 $ 23.19 Granted - - Exercised (94,730 ) 22.44 Forfeited (89,708 ) 27.07 Outstanding as of March 31, 2017 1,552,962 $ 23.02 The fair value of each option grant is estimated on the grant date using the Black-Scholes option valuation model. Listed below are the weighted-average assumptions used for the fair value computation: Three Months Ended March 31, 2017 2016 Dividend yield (1) - 0.99 % Expected volatility (2) - 27.91 % Risk-free interest rate (3) - 0.90 % Expected term (years) (4) - 2.74 Weighted-average fair value of options granted - $ 4.28 (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. No restricted stock unit awards were granted in the three March 31, 2017, 350 three March 31, 2016. three March 31, 2017, Number of Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2016 686,786 $ 16.46 Granted - - Vested (124,991 ) 16.78 Cancelled (4,280 ) 23.82 Unvested as of March 31, 2017 557,515 $ 16.75 The fair value of each restricted stock unit is based on the closing market price on the date of grant. Beginning in 2014, “PRSUs”) to selected key employees that may may three may 0 150 three 75 125 three No PRSUs were granted in the three March 31, 2017, 177,741 three March 31, 2016. A summary of the performance restricted stock unit award activity under our equity compensation plans for the three March 31, 2017 Number of Performance Restricted Stock Unit Awards Weighted Averag e Grant Date Fair Value Unvested as of December 31, 2016 508,478 $ 25.60 Granted - - Shares earned above target - - Vested - - Cancelled - - Unvested as of March 31, 2017 508,478 $ 25.60 The number of granted shares, cancelled shares, and unvested shares are included in the table above based on the performance target established at the initial grant date. The fair value of each PRSU grant is estimated on the grant date using the Monte Carlo Simulation valuation model. Listed below are the weighted-average assumptions used for the fair value computation: Three Months Ended March 31, 2017 2016 Dividend yield (1) - 0.99 % Expected volatility (2) - 27.95 % Average peer volatility (2) - 34.37 % Average peer correlation coefficient (3) - 0.6022 Risk-free interest rate ( 4 ) - 0.89 % Expected term (years) ( 5 ) - 2.84 Weighted-average fair value of PRSUs granted - $ 23.89 (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% (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 (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	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3. Earnings Per Share A reconciliation of the basic and diluted earnings per share computations for the three March 31, 2017 2016, Three Months Ended March 31, 2017 2016 Weighted-average common shares outstanding – basic 80,310 80,707 Dilutive effect of stock options and unvested restricted stock units (1) 945 761 Weighted-average common shares outstanding – diluted 81,255 81,468 Net income attributable to Knight Transportation (1) $ 14,876 $ 23,017 Basic earnings per share $ 0.19 $ 0.29 Diluted earnings per share $ 0.18 $ 0.28 (1) We early adopted ASU 2016 09, fourth 2016. $1.8 December 31, 2016. three March 31, 2016 2016. Certain shares of options, restricted stock units, and PRSUs (collectively, “equity awards”) were excluded from the computation of diluted earnings per share because the equity awards’ 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 March 31, 2017 2016 Number of anti-dilutive shares 235,197 1,025,129

Note 4 - Segment Information

Note 4 - Segment Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 4. We have two three two In determining our reportable segments, we focus on financial information such as total revenues and expenses, operating income, operating ratios, and other key operating statistics common in the industry. The chief operating decision maker also uses this information to evaluate segment performance and allocate resources to our operations. Our segments provide transportation and related services for one The following table sets forth revenue and operating income between the Trucking and Logistics segments for the three March 31, 2017 2016 Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Revenues: $ % $ % Trucking Segment $ 218,690 80.6 % $ 217,956 80.1 % Logistics Segment 54,188 20.0 58,609 21.5 Subtotal 272,878 276,565 Intersegment Eliminations Trucking (28 ) 0.0 (38 ) 0.0 Intersegment Eliminations Logistics (1,668 ) (0.6 ) (4,439 ) (1.6 ) Total $ 271,182 100 % $ 272,088 100 % Operating Income: Trucking Segment $ 20,260 89.5 % $ 35,922 92.8 % Logistics Segment 2,378 10.5 2,805 7.2 Total $ 22,638 100 % $ 38,727 100 % No segmental asset or liability information is provided as we do not prepare balance sheets by segment, and the chief operating decision maker does not review segment assets or liabilities to make operating decisions.

Note 5 - Joint Ventures

Note 5 - Joint Ventures	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Joint Venture [Text Block]	Note 5. In 2014, 2015, 80% 810 10 15 8, Consolidation In 2010, $26,000 52% 810 10 15 8, Consolidation

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 6. 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 (“AL”) claims under a primary self-insured retention ("SIR") policy with retention ranging from $1.0 $3.0 $1.5 March 1, 2017 March 1, 2018, $1.0 March 1, 2016 March 1, 2017, $2.5 $130.0 March 1, 2017 March 1, 2018, March 1, 2016 March 1, 2017. $2.5 We are self-insured for workers' compensation coverage. On March 31, 2016, $500,000 $1.0 $ 240,000 2017 2016. Based on our present knowledge of the facts, and in certain cases, advice of outside counsel, management believes the resolution of open claims and pending litigation, taking into account existing reserves, and accrued liabilities recorded is not likely to have a materially adverse effect on our consolidated financial statements.

Note 7 - Property and Equipment

Note 7 - Property and Equipment	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 7 . 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 March 31, 2017 December 31, 2016, $4.6 $13.0

Note 8 - Goodwill and Intangibl

Note 8 - Goodwill and Intangibles, Net	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 8. 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. The changes in the carrying amounts of goodwill were as follows (dollars in thousands): Three Months Ended March 31, 2017 Goodwill at beginning of period $ 47,031 Amortization relating to deferred tax assets (5 ) Goodwill at end of period $ 47,026 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 Intangible asset balances were as follows (dollars in thousands): March 31, 2017 December 31, 2016 Gross carrying amount $ 3,700 $ 3,700 Accumulated amortization (1,250 ) (1,125 ) Intangible assets, net $ 2,450 $ 2,575 Amortization expense associated with these intangible assets was $0.1 three March 31, 2017 2016, “Depreciation and amortization” on the accompanying condensed consolidated statements of income. Future amortization expense for intangible assets is estimated at $0.4 2017, $0.5 2018 2019, $0.4 2020 2021, $0.3 2022.

Note 9 - Investments and Relate

Note 9 - Investments and Related Commitments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Investment [Text Block]	Note 9. Investment balances included in “Other long-term assets, restricted cash and investments” on our accompanying condensed consolidated balance sheets were as follows (dollars in thousands): March 31, 2017 December 31, 2016 Investment in Transportation Resource Partners (TRP) $ 214 $ 214 Investment in Transportation Resource Partners III (TRP III) 5,529 5,882 Investment in Transportation Resource Partners IV (TRP IV) 1,352 1,882 Investment in Transportation Resource Partners CoInvest Partners, (NTI) I, LP (TRP Coinvestment) 8,969 10,000 Investment in Transportation Resource Partners CoInvest Partners, (QLS) I, LP (TRP Coinvestment QLS) 7,057 9,735 $ 23,121 $ 27,713 In 2003, $5.0 2006, $5.5 No three March 31, 2017 three March 31, 2016. In 2008, $15.0 2015, $2.1 March 31, 2017, $11.1 $1.8 $0.5 three March 31, 2017, $0.3 three March 31, 2016. In 2015, $4.9 $2.0 $2.9 March 31, 2017. $0.4 $53,000 three March 31, 2017. No three March 31, 2016. In the first 2016, $10.0 no March 31, 2017. $1.0 three March 31, 2017, no three March 31, 2016. In the third 2016, $9.7 no March 31, 2017. $1.3 $4.0 three March 31, 2017.

Note 10 - Marketable Equity Sec

Note 10 - Marketable Equity Securities	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	Note 10. We have, from time to time, held 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 three March 31, 2017 2016, Three Months Ended March 31, 2017 2016 Realized gains Sales proceeds - $ 2,852 Cost of securities sold - 1,257 Realized gain - $ 1,595 Realized gains, net of taxes - $ 981 During the third 2016, no March 31, 2017 December 31, 2016.

Note 11 - Assets Held for Sale

Note 11 - Assets Held for Sale	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Other Assets Disclosure [Text Block]	Note 11. 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 March 31, 2017 December 31, 2016, $12.6 $9.6 twelve

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12. 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 2012 2016 March 31, 2017, December 31, 2016, $0.7 If recognized, the $0.7 March 31, 2017 We believe it is reasonably possible that a decrease of up to $0.7 may Potential interest and penalty accruals and reversals related to unrecognized tax benefits are recognized as a component of income tax expense. As of March 31, 2017, December 31, 2016, no

Note 13 - Company Share Repurch

Note 13 - Company Share Repurchase Program	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Treasury Stock [Text Block]	Note 13. ompany Share Repurchase Program In 2011, 10.0 may 10b5 1 Under the share repurchase program, we made no three March 31, 2017, 1.1 $27.1 three March 31, 2016. March 31, 2017, 4.2

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 14. 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 three three Level 1 Level 2 Level 3 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 March 31, 2017 December 31, 2016 Total Total Level One Level Two Level Three Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Restricted cash and investments: Money market funds $ 1,409 $ 1,385 $ 1,409 $ 1,385 - - - - Trading securities: Debt securities - municipal securities $ 1,901 $ 1,903 - - $ 1,901 $ 1,903 - -

Note 15 - Notes Receivable

Note 15 - Notes Receivable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Notes Receivable [Text Block]	Note 15. Notes Receivable We provide financing to independent contractors and third 2.0% 20%. The notes receivable balances are classified separately between current and long-term in the accompanying condensed consolidated balance sheets. The current and long-term balances of our notes receivable at March 31, 2017 December 31, 2016, March 31, 2017 December 31, 2016 Notes receivable from independent contractors $ 1,259 $ 1,039 Notes receivable from third parties 2,360 2,808 Gross notes receivable 3,619 3,847 Allowance for doubtful notes receivable (233 ) (240 ) Total notes receivable, net of allowance 3,386 $ 3,607 Current portion, net of allowance 546 560 Long-term portion $ 2,840 $ 3,047

Note 16 - Line of Credit

Note 16 - Line of Credit	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	Note 16. We maintain a revolving line of credit which permits revolving borrowings and letters of credit. The line of credit is maintained at $300.0 August 1, 2019. 0.625%, no March 31, 2017, $18.0 December 31, 2016. ("APR") three March 31, 2017 1.40%. March 31, 2017, $31.3 $268.7 March 31, 2017. APR three March 31, 2017 3.91%. three March 31, 2017 December 31, 2016.

Note 17 - Recent Accounting Pro

Note 17 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 17. In January 2017, 2017 04, 350): December 15, 2019. In November 2016, 2016 18, 230): December 15, 2017, In August 2016, 2016 15, 203): eight December 15, 2017. In March 2016, 2016 08, 606): 2014 09, 606), two December 15, 2017, January 1, 2017. We are in the early stages of evaluating the effect that adopting the new guidance will have on our consolidated financial statements. We have established a team to evaluate and implement this standard and expect to be substantially complete with our evaluation, and provide additional information about any financial impact of adoption, by the time we file our Quarterly Report on Form 10 June 30, 2017. In February 2016, 2016 02, 842). 12 In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that companies may December 15, 2018, In January 2016, 2016 01, 825 10). December 15, 2017,

Note 18 - Subsequent Events

Note 18 - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 18. On April 10, 2017, 0.72 one 54% 46% third 2017,

Note 2 - Stock-based Compensa26

Note 2 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended March 31, (in thousands) 2017 2016 Stock compensation expense for options, net of forfeitures $ 347 $ 371 Stock compensation expense for restricted stock units and performance restricted stock units, net of forfeitures 1,072 409 Total stock compensation expense, net of forfeitures $ 1,419 $ 780
Share-based Compensation, Stock Options, Activity [Table Text Block]	Option Totals Weighted Average Exercise Price Per Share Outstanding as of December 31, 2016 1,737,400 $ 23.19 Granted - - Exercised (94,730 ) 22.44 Forfeited (89,708 ) 27.07 Outstanding as of March 31, 2017 1,552,962 $ 23.02
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2017 2016 Dividend yield (1) - 0.99 % Expected volatility (2) - 27.91 % Risk-free interest rate (3) - 0.90 % Expected term (years) (4) - 2.74 Weighted-average fair value of options granted - $ 4.28
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, 2016 686,786 $ 16.46 Granted - - Vested (124,991 ) 16.78 Cancelled (4,280 ) 23.82 Unvested as of March 31, 2017 557,515 $ 16.75
Share-based Compensation, Performance Shares Award Nonvested Activity [Table Text Block]	Number of Performance Restricted Stock Unit Awards Weighted Averag e Grant Date Fair Value Unvested as of December 31, 2016 508,478 $ 25.60 Granted - - Shares earned above target - - Vested - - Cancelled - - Unvested as of March 31, 2017 508,478 $ 25.60
Schedule of Share-based Payment Award, Equity Instruments Other than Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2017 2016 Dividend yield (1) - 0.99 % Expected volatility (2) - 27.95 % Average peer volatility (2) - 34.37 % Average peer correlation coefficient (3) - 0.6022 Risk-free interest rate ( 4 ) - 0.89 % Expected term (years) ( 5 ) - 2.84 Weighted-average fair value of PRSUs granted - $ 23.89

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2017 2016 Weighted-average common shares outstanding – basic 80,310 80,707 Dilutive effect of stock options and unvested restricted stock units (1) 945 761 Weighted-average common shares outstanding – diluted 81,255 81,468 Net income attributable to Knight Transportation (1) $ 14,876 $ 23,017 Basic earnings per share $ 0.19 $ 0.29 Diluted earnings per share $ 0.18 $ 0.28
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2017 2016 Number of anti-dilutive shares 235,197 1,025,129

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Revenues: $ % $ % Trucking Segment $ 218,690 80.6 % $ 217,956 80.1 % Logistics Segment 54,188 20.0 58,609 21.5 Subtotal 272,878 276,565 Intersegment Eliminations Trucking (28 ) 0.0 (38 ) 0.0 Intersegment Eliminations Logistics (1,668 ) (0.6 ) (4,439 ) (1.6 ) Total $ 271,182 100 % $ 272,088 100 % Operating Income: Trucking Segment $ 20,260 89.5 % $ 35,922 92.8 % Logistics Segment 2,378 10.5 2,805 7.2 Total $ 22,638 100 % $ 38,727 100 %

Note 8 - Goodwill and Intangi29

Note 8 - Goodwill and Intangibles, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Three Months Ended March 31, 2017 Goodwill at beginning of period $ 47,031 Amortization relating to deferred tax assets (5 ) Goodwill at end of period $ 47,026
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	March 31, 2017 December 31, 2016 Gross carrying amount $ 3,700 $ 3,700 Accumulated amortization (1,250 ) (1,125 ) Intangible assets, net $ 2,450 $ 2,575

Note 9 - Investments and Rela30

Note 9 - Investments and Related Commitments (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Investments in and Advances to Affiliates [Table Text Block]	March 31, 2017 December 31, 2016 Investment in Transportation Resource Partners (TRP) $ 214 $ 214 Investment in Transportation Resource Partners III (TRP III) 5,529 5,882 Investment in Transportation Resource Partners IV (TRP IV) 1,352 1,882 Investment in Transportation Resource Partners CoInvest Partners, (NTI) I, LP (TRP Coinvestment) 8,969 10,000 Investment in Transportation Resource Partners CoInvest Partners, (QLS) I, LP (TRP Coinvestment QLS) 7,057 9,735 $ 23,121 $ 27,713

Note 10 - Marketable Equity S31

Note 10 - Marketable Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Realized Gain (Loss) [Table Text Block]	Three Months Ended March 31, 2017 2016 Realized gains Sales proceeds - $ 2,852 Cost of securities sold - 1,257 Realized gain - $ 1,595 Realized gains, net of taxes - $ 981

Note 14 - Fair Value Measurem32

Note 14 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Total Total Level One Level Two Level Three Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Balance at March 31, 2017 Balance at December 31, 2016 Restricted cash and investments: Money market funds $ 1,409 $ 1,385 $ 1,409 $ 1,385 - - - - Trading securities: Debt securities - municipal securities $ 1,901 $ 1,903 - - $ 1,901 $ 1,903 - -

Note 15 - Notes Receivable (Tab

Note 15 - Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, 2017 December 31, 2016 Notes receivable from independent contractors $ 1,259 $ 1,039 Notes receivable from third parties 2,360 2,808 Gross notes receivable 3,619 3,847 Allowance for doubtful notes receivable (233 ) (240 ) Total notes receivable, net of allowance 3,386 $ 3,607 Current portion, net of allowance 546 560 Long-term portion $ 2,840 $ 3,047

Note 2 - Stock-based Compensa34

Note 2 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2014
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 2,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	569,480
Proceeds from Stock Options Exercised	$ 2,094	$ 2,616
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 328 days
Employee Stock Option [Member] | Weighted Average [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 255 days
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	5 years 292 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7,700
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0	350
Restricted Stock Units (RSUs) [Member] | Weighted Average [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 73 days
Performance Shares [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 292 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 2,300
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0	177,741
Share-based Compensation Arrangement by Share-Based Payment Award, Payout Range, Performance Period			3 years
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%
Performance Shares [Member] | Weighted Average [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 73 days

Note 2 - Stock-based Compensa35

Note 2 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock compensation expense	$ 1,419	$ 780
Employee Stock Option [Member]
Stock compensation expense	347	371
RSU and Performance Shares [Member]
Stock compensation expense	$ 1,072	$ 409

Note 2 - Stock-based Compensa36

Note 2 - Stock-based Compensation - Option Award Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Beginning Balance (in shares)	1,737,400
Beginning Balance (in dollars per share)	$ 23.19
Granted (in shares)	0	569,480
Granted (in dollars per share)
Exercised (in shares)	(94,730)
Exercised (in dollars per share)	$ 22.44
Forfeited (in shares)	(89,708)
Forfeited (in dollars per share)	$ 27.07
Ending Balance (in shares)	1,552,962
Ending Balance (in dollars per share)	$ 23.02

Note 2 - Stock-based Compensa37

Note 2 - Stock-based Compensation - Stock Option Fair Value Assumptions (Details) - Stock Compensation Plan [Member] - $ / shares		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Dividend yield (1)	[1]		0.99%
Expected volatility (2)	[2]		27.91%
Risk-free interest rate (3)	[3]		0.90%
Expected term (years) (4) (Year)	[4]		2 years 270 days
Weighted-average fair value of options granted (in dollars per share)			$ 4.28
[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.

Note 2 - Stock-based Compensa38

Note 2 - Stock-based Compensation - Restricted Stock Unit Award Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Unvested (in shares)	686,786
Unvested (in dollars per share)	$ 16.46
Granted (in shares)	0	350
Granted (in dollars per share)
Vested (in shares)	(124,991)
Vested (in dollars per share)	$ 16.78
Cancelled (in shares)	(4,280)
Cancelled (in dollars per share)	$ 23.82
Unvested (in shares)	557,515
Unvested (in dollars per share)	$ 16.75

Note 2 - Stock-based Compensa39

Note 2 - Stock-based Compensation - Performance Restricted Stock Unit Award Activity (Details) - Performance Shares [Member] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Unvested (in shares)	508,478
Unvested (in dollars per share)	$ 25.60
Granted (in shares)	0	177,741
Granted (in dollars per share)		$ 23.89
Shares earned above target (in shares)
Shares earned above target (in dollars per share)
Vested (in shares)
Vested (in dollars per share)
Cancelled (in shares)
Cancelled (in dollars per share)
Unvested (in shares)	508,478
Unvested (in dollars per share)	$ 25.60

Note 2 - Stock-based Compensa40

Note 2 - Stock-based Compensation - Performance Shares Fair Value Assumptions (Details) - Performance Shares [Member]		3 Months Ended
		Mar. 31, 2017$ / shares	Mar. 31, 2016$ / shares
Dividend yield (1)	[1]		0.99%
Expected volatility (2)	[2]		27.95%
Average peer volatility (2)	[2]		34.37%
Average peer correlation coefficient (3)	[3]		0.6022
Risk-free interest rate (3)	[4]		0.89%
Expected term (years) (4) (Year)	[5]		2 years 306 days
Weighted-average fair value of PRSUs granted (in dollars per share)			$ 23.89
[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 (De

Note 3 - Earnings Per Share (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 8,230	$ 16,336
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)			$ (1,800)

Note 3 - Earnings Per Share - R

Note 3 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Weighted-average common shares outstanding - basic (in shares)		80,310	80,707
Dilutive effect of stock options and unvested restricted stock units (1) (in shares)	[1]	945	761
Weighted-average common shares outstanding - diluted (in shares)		81,255	81,468
Net income attributable to Knight Transportation (1)	[1]	$ 14,876	$ 23,017
Basic earnings per share (in dollars per share)		$ 0.19	$ 0.29
Diluted earnings per share (in dollars per share)		$ 0.18	$ 0.28
[1]	We early adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting during the fourth quarter of 2016. The adoption of this standard resulted in the recognition of $1.8 million of excess tax benefits to the income tax provision for the year ended December 31, 2016. Net income and shares outstanding data for the three months ended March 31, 2016 are presented as if the ASU was adopted at the beginning of 2016.

Note 3 - Earnings Per Share - A

Note 3 - Earnings Per Share - Anti-dilutive Shares (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Number of anti-dilutive shares (in shares)	235,197	1,025,129

Note 4 - Segment Information (D

Note 4 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2017
Number of Operating Segments	2
Number of Reportable Segments	2
Trucking Segment [Member]
Number of Operating Units	3
Logistics Segment [Member]
Number of Operating Units	2

Note 4 - Segment Information -

Note 4 - Segment Information - Revenue and Operating Income Between Trucking and Logistics Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues	$ 271,182	$ 272,088
Percentage of revenues	100.00%	100.00%
Operating income	$ 22,638	$ 38,727
Percentage of operating income	100.00%	100.00%
Operating Segments [Member]
Revenues	$ 272,878	$ 276,565
Percentage of revenues
Operating Segments [Member] | Trucking Segment [Member]
Revenues	$ 218,690	$ 217,956
Percentage of revenues	80.60%	80.10%
Operating income	$ 20,260	$ 35,922
Percentage of operating income	89.50%	92.80%
Operating Segments [Member] | Logistics Segment [Member]
Revenues	$ 54,188	$ 58,609
Percentage of revenues	20.00%	21.50%
Operating income	$ 2,378	$ 2,805
Percentage of operating income	10.50%	7.20%
Intersegment Eliminations [Member] | Trucking Segment [Member]
Revenues	$ (28)	$ (38)
Percentage of revenues	0.00%	0.00%
Intersegment Eliminations [Member] | Logistics Segment [Member]
Revenues	$ (1,668)	$ (4,439)
Percentage of revenues	(0.60%)	(1.60%)

Note 5 - Joint Ventures (Detail

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

Note 6 - Commitments and Cont47

Note 6 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 30, 2016
Insurance, Aggregate Deductible, Amount	$ 2,500,000
Self Retention for Employee Medical Health	240,000	$ 240,000
Policy Period, March 1, 2017 to March 1, 2018 [Member]
Self Insurance Retention	1,000,000
Excess Personal Injury and Property Damage Liability Insurance	130,000,000
Policy Period, March 1, 2016 to March 1, 2017 [Member]
Self Insurance Retention	2,500,000
Excess Personal Injury and Property Damage Liability Insurance	130,000,000
Minimum [Member]
Self Insurance Retention	1,000,000
Maximum [Member]
Self Insurance Retention	3,000,000
Self Insurance, Aggregate Losses	$ 1,500,000
Self Insurance Retention, Workers Compensation Claims per Occurrence		$ 1,000,000	$ 500,000

Note 7 - Property and Equipme48

Note 7 - Property and Equipment (Details Textual) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Construction in Progress, Gross	$ 4.6	$ 13

Note 8 - Goodwill and Intangi49

Note 8 - Goodwill and Intangibles, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years 219 days
Amortization of Intangible Assets	$ 0.1	$ 0.1
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	0.4
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	0.4
Finite-Lived Intangible Assets, Amortization Expense, Year Five	0.4
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 0.3

Note 8 - Goodwill and Intangi50

Note 8 - Goodwill and Intangibles, Net - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill at beginning of period	$ 47,031
Amortization relating to deferred tax assets	(5)
Goodwill at end of period	$ 47,026

Note 8 - Goodwill and Intangi51

Note 8 - Goodwill and Intangibles, Net - Intangible Asset (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Gross carrying amount	$ 3,700	$ 3,700
Accumulated amortization	(1,250)	(1,125)
Intangible assets, net	$ 2,450	$ 2,575

Note 9 - Investments and Rela52

Note 9 - Investments and Related Commitments (Details Textual) - USD ($)	3 Months Ended			27 Months Ended
	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2008	Dec. 31, 2006	Dec. 31, 2003
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 23,121,000			$ 23,121,000	$ 27,713,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	53,000
Transportation Resource Partners [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	214,000			214,000	214,000				$ 5,000,000
Amounts Committed to Invest								$ 5,500,000
Cost-method Investments, Realized Gain (Loss), Excluding Other than Temporary Impairments	0		0
Transportation Resource Partners III [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	5,529,000			5,529,000	5,882,000
Amounts Committed to Invest							$ 15,000,000
Amounts Committed to Invest, Commitment Release						$ 2,100,000
Investments	11,100,000			11,100,000
Remaining Investment Commitment	1,800,000			1,800,000
Income (Loss) from Equity Method Investments	500,000		(300,000)
Transportation Resource Partners IV [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	1,352,000			1,352,000	1,882,000
Amounts Committed to Invest						$ 4,900,000
Remaining Investment Commitment	2,900,000			2,900,000
Payments for (Proceeds from) Investments	(400,000)		0	2,000,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	53,000
Transportation Resource Partners NTI [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	8,969,000			8,969,000	10,000,000
Remaining Investment Commitment	0			0
Income (Loss) from Equity Method Investments	(1,000,000)		0
Payments for (Proceeds from) Investments			$ 10,000,000
Transportation Resource Partners (QLS) [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	7,057,000			7,057,000	$ 9,735,000
Remaining Investment Commitment	0			$ 0
Income (Loss) from Equity Method Investments	1,300,000
Payments for (Proceeds from) Investments	$ (4,000,000)	$ 9,700,000

Note 9 - Investments and Rela53

Note 9 - Investments and Related Commitments - Investments (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2003
Investments	$ 23,121,000	$ 27,713,000
Transportation Resource Partners [Member]
Investments	214,000	214,000	$ 5,000,000
Transportation Resource Partners III [Member]
Investments	5,529,000	5,882,000
Transportation Resource Partners IV [Member]
Investments	1,352,000	1,882,000
Transportation Resource Partners NTI [Member]
Investments	8,969,000	10,000,000
Transportation Resource Partners (QLS) [Member]
Investments	$ 7,057,000	$ 9,735,000

Note 10 - Marketable Equity S54

Note 10 - Marketable Equity Securities (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale Securities	$ 0	$ 0

Note 10 - Marketable Equity S55

Note 10 - Marketable Equity Securities - Realized Gains On Available-for-sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Sales proceeds		$ 2,852
Cost of securities sold		1,257
Realized gain		1,595
Realized gains, net of taxes		$ 981

Note 11 - Assets Held for Sale

Note 11 - Assets Held for Sale (Details Textual) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Disposal Group, Including Discontinued Operation, Assets	$ 12.6	$ 9.6

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Unrecognized Tax Benefits	$ 700	$ 700
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	700
Decrease in Unrecognized Tax Benefits is Reasonably Possible	700
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0	$ 0
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year	2,012
State and Local Jurisdiction [Member] | Latest Tax Year [Member]
Open Tax Year	2,016
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,012
Domestic Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year	2,016

Note 13 - Company Share Repur58

Note 13 - Company Share Repurchase Program (Details Textual) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	May 31, 2011
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			10,000
Treasury Stock, Shares, Acquired	0	1,100
Treasury Stock, Value, Acquired, Cost Method		$ 27.1
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	4,200

Note 14 - Fair Value Measurem59

Note 14 - Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Money market funds	$ 1,409	$ 1,385
Debt securities - municipal securities	1,901	1,903
Fair Value, Inputs, Level 1 [Member]
Money market funds	1,409	1,385
Debt securities - municipal securities	0	0
Fair Value, Inputs, Level 2 [Member]
Money market funds	0	0
Debt securities - municipal securities	1,901	1,903
Fair Value, Inputs, Level 3 [Member]
Money market funds	0	0
Debt securities - municipal securities	$ 0	$ 0

Note 15 - Notes Receivable (Det

Note 15 - Notes Receivable (Details Textual)	3 Months Ended
	Mar. 31, 2017
Interest on Note Receivable, Minimum	2.00%
Interest on Note Receivable, Maximum	20.00%

Note 15 - Notes Receivable - Cu

Note 15 - Notes Receivable - Current and Long-term Balance of Notes Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Notes receivable from independent contractors	$ 1,259	$ 1,039
Notes receivable from third parties	2,360	2,808
Gross notes receivable	3,619	3,847
Allowance for doubtful notes receivable	(233)	(240)
Total notes receivable, net of allowance	3,386	3,607
Current portion, net of allowance	546	560
Long-term portion	$ 2,840	$ 3,047

Note 16 - Line of Credit (Detai

Note 16 - Line of Credit (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000
Long-term Line of Credit	$ 0	$ 18,000
Line of Credit Facility, Interest Rate During Period	1.40%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.625%
Revolving Credit Facility [Member] | Unused Portion Fees [Member]
Line of Credit Facility, Interest Rate During Period	3.91%
Letter of Credit [Member]
Long-term Line of Credit	$ 31,300
Line of Credit Facility, Remaining Borrowing Capacity	$ 268,700

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual) - Knight-Swift Transportation Holdings Inc. Merger [Member] - Subsequent Event [Member]	Apr. 10, 2017
Business Acquisition, Percentage of Voting Interests Acquired	46.00%
Swift Transportation Company [Member]
Business Acquisition, Percentage of Voting Interests Acquired	54.00%
Reverse Stock Split [Member] | Swift Transportation Company [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	0.72