Knight Transportation 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 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)		80,658,140
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Unaudite

Condensed Consolidated Unaudited Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 88,706	$ 8,021
Trade receivables, net of allowance for doubtful accounts of $2,544 and $2,727, respectively	127,252	142,167
Notes receivable, net of allowance for doubtful notes receivable of $231 and $240, respectively	646	560
Prepaid expenses	11,703	13,244
Assets held for sale	13,845	9,634
Other current assets	8,208	8,159
Income tax receivable	11,280	8,406
Total current assets	261,640	190,191
Property and Equipment:
Revenue equipment	892,240	910,042
Land and land improvements	54,816	54,106
Buildings and building improvements	148,473	145,866
Furniture and fixtures	22,198	20,241
Shop and service equipment	17,058	16,859
Leasehold improvements	4,735	4,735
Gross property and equipment	1,139,520	1,151,849
Less: accumulated depreciation and amortization	(379,624)	(348,991)
Property and equipment, net	759,896	802,858
Notes receivable, long-term	2,618	3,047
Goodwill	47,021	47,031
Intangible assets, net	2,325	2,575
Other long-term assets, restricted cash and investments	25,908	32,823
Total long-term assets	837,768	888,334
Total assets	1,099,408	1,078,525
Current Liabilities:
Accounts payable	12,775	18,006
Accrued payroll and purchased transportation	27,008	25,017
Accrued liabilities	21,429	16,722
Claims accrual - current portion	19,905	18,633
Dividend payable - current portion	287	272
Total current liabilities	81,404	78,650
Long-term Liabilities:
Claims accrual - long-term portion	14,167	13,290
Long-term dividend payable and other liabilities	1,781	1,854
Deferred tax liabilities	183,518	178,000
Long-term debt		18,000
Total long-term liabilities	199,466	211,144
Total liabilities	280,870	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; 80,634 and 80,229 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	806	802
Additional paid-in capital	231,551	223,267
Retained earnings	583,988	562,404
Total Knight Transportation shareholders' equity	816,345	786,473
Noncontrolling interest	2,193	2,258
Total shareholders' equity	818,538	788,731
Total liabilities and shareholders' equity	$ 1,099,408	$ 1,078,525

Condensed Consolidated Unaudit3

Condensed Consolidated Unaudited Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 2,544	$ 2,727
Allowance for doubtful notes receivable	$ 231	$ 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)	80,634	80,299
Common stock, shares outstanding (in shares)	80,634	80,299

Condensed Consolidated Unaudit4

Condensed Consolidated Unaudited Statements of Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUE:
Revenue, before fuel surcharge		$ 247,022	$ 253,859	$ 492,002	$ 507,442
Fuel surcharge		26,221	22,459	52,423	40,964
Total revenue		273,243	276,318	544,425	548,406
OPERATING EXPENSES:
Salaries, wages and benefits		79,944	84,440	162,454	168,043
Fuel		33,719	33,429	68,952	60,200
Operations and maintenance		20,596	19,094	41,249	37,104
Insurance and claims		8,294	8,257	16,865	17,080
Operating taxes and licenses		4,615	4,612	9,046	10,099
Communications		1,018	1,043	2,204	2,248
Depreciation and amortization		29,371	28,955	59,053	57,357
Purchased transportation		58,299	53,918	116,924	111,703
Miscellaneous operating expenses		4,799	4,489	12,452	7,764
Merger-related costs		4,178		4,178
Total operating expenses		244,833	238,237	493,377	471,598
Operating income		28,410	38,081	51,048	76,808
Interest income		130	82	189	176
Interest expense		(54)	(258)	(136)	(559)
Other income		601	1,927	1,322	3,213
Income before income taxes		29,087	39,832	52,423	79,638
Income taxes		10,828	14,618	19,058	30,955
Net income		18,259	25,214	33,365	48,683
Net income attributable to noncontrolling interest		(289)	(296)	(518)	(748)
Net income attributable to Knight Transportation	[1]	$ 17,970	$ 24,918	$ 32,847	$ 47,935
Earnings per share:
Basic (in dollars per share)		$ 0.22	$ 0.31	$ 0.41	$ 0.60
Diluted (in dollars per share)		0.22	0.31	0.40	0.59
Dividends declared per share (in dollars per share)		$ 0.06	$ 0.06	$ 0.12	$ 0.12
Weighted Average Shares Outstanding:
Basic (in shares)		80,520	80,105	80,416	80,407
Diluted (in shares)		81,349	80,983	81,276	81,191
[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 and six months ended June 30, 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income	$ 18,259	$ 25,214	$ 33,365	$ 48,683
Other comprehensive income, net of tax:
Realized gains from available-for-sale securities reclassified to net income(1)		(907)		(1,888)
Unrealized (loss)/gain from changes in fair value of available-for-sale securities(2)		(75)		48
Comprehensive income	18,259	24,232	33,365	46,843
Comprehensive income attributable to noncontrolling interest	(289)	(296)	(518)	(748)
Comprehensive income attributable to Knight Transportation	$ 17,970	$ 23,936	$ 32,847	$ 46,095

Condensed Consolidated Unaudit6

Condensed Consolidated Unaudited Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net of current income taxes	$ 0	$ 567	$ 0	$ 1,181
Net of deferred income taxes	$ 0	$ (50)	$ 0	$ 24

Condensed Consolidated Unaudit7

Condensed Consolidated Unaudited Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows From Operating Activities:
Net income	$ 33,365	$ 48,683
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,053	57,357
Gain on sale of equipment	(1,638)	(5,845)
Gain from sale of available-for-sale securities		(3,069)
Transportation Resource Partners impairment	56
Income from investment in Transportation Resource Partners	(1,382)	(144)
Non-cash compensation expense for issuance of common stock to certain members of the Board of Directors	398	398
Provision for doubtful accounts and notes receivable	17	317
Stock-based compensation expense, net	1,573	2,581
Deferred income taxes	5,518	4,193
Changes in operating assets and liabilities:
Trade receivables	14,900	(3,115)
Other current assets	(50)	5,044
Prepaid expenses	1,542	5,425
Income tax receivable	(2,874)	24,043
Other long-term assets	140	185
Accounts payable	(1,982)	5,363
Accrued liabilities	6,906	(8,951)
Claims accrual	2,149	3,093
Net cash provided by operating activities	117,691	135,558
Cash Flows From Investing Activities:
Purchases of property and equipment	(35,513)	(75,446)
Proceeds from sale of equipment/assets held for sale	12,926	40,050
Proceeds from notes receivable	1,266	262
Change in restricted cash and investments	(24)	(19)
Proceeds from sale of available-for-sale securities		5,183
Cash payments to Transportation Resource Partners	(712)	(11,028)
Cash proceeds from Transportation Resource Partners	8,846	423
Net cash used in investing activities	(13,211)	(40,575)
Cash Flows From Financing Activities:
Dividends paid	(9,926)	(9,938)
Payments to repurchase company stock		(36,566)
Payments on line of credit borrowings, net	(18,000)	(52,000)
Shares withheld for employee taxes related to stock-based compensation	(1,603)	(1,344)
Cash distribution to noncontrolling interest holder	(584)	(972)
Proceeds from exercise of stock options	6,318	6,710
Net cash used in financing activities	(23,795)	(94,110)
Net increase in Cash and Cash Equivalents	80,685	873
Cash and Cash Equivalents, beginning of period	8,021	8,691
Cash and Cash Equivalents, end of period	88,706	9,564
Non-cash investing and financing transactions:
Equipment acquired included in accounts payable	396	12,528
Transfer from property and equipment to assets held for sale	14,920	18,776
Financing provided to independent contractors for equipment sold	1,172	157
Net dividend accrued for restricted stock units	6	77
Cash flow information:
Income taxes paid	16,351	2,667
Interest expense paid	$ 138	$ 591

Note 1 - Financial Information

Note 1 - Financial Information	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Financial Information 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, 10 not 10 December 31, 2016. On April 10, 2017, 0.72 one 54% 46% third 2017, During the six June 30, 2017, $4.2 $2.6 D uring the fourth 2016 , w e early adopted Accounting Standards Update No. 2016 09, Compensation - Stock Compensation (Topic 718 B ased Payment Accounting 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 six June 30, 2016, 2016 09 1—Significant 10 December 31, 2016

Note 2 - Stock-based Compensati

Note 2 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 2. Stock-Based Compensation In May 2015, 2015 “2015 2005 “2005 2012 “2012 2015 2005 2012 2005 2012 2015 May 2015, 2015 three six June 30, 2017, 2016, Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Stock compensation expense for options, net of forfeitures $ 482 $ 513 $ 830 $ 884 Stock compensation (benefit)/expense for restricted stock units and performance restricted stock units, net of forfeitures (328 ) 1,288 743 1,697 Total stock compensation expense, net of forfeitures $ 154 $ 1,801 $ 1,573 $ 2,581 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, 2017, $5.0 2.0 3.9 $10.6 3.1 5.6 $0.5 2.0 2.6 A total of 497,421 569,480 first six 2017 2016, $6.3 six June 30, 2017, $6.7 2016. A summary of the option award activity under our equity compensation plans for the six June 30, 2017, Option Totals Weighted Average Exercise Price Per Share Outstanding as of December 31, 2016 1,737,400 $ 23.19 Granted 497,421 33.35 Exercised (342,307 ) 20.76 Forfeited (121,861 ) 26.56 Outstanding as of June 30, 2017 1,770,653 $ 26.29 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: Six Months Ended June 30, 2017 2016 Dividend yield (1) 0.72 % 0.99 % Expected volatility (2) 27.95 % 27.91 % Risk-free interest rate (3) 1.49 % 0.90 % Expected term (4) 3.22 2.74 Weighted-average fair value of options granted $ 6.78 $ 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. A total of 124,145 4,350 first six 2017 2016, six June 30, 2017, Number of Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2016 686,786 $ 16.46 Granted 124,145 33.35 Vested (124,991 ) 16.78 Forfeited (26,264 ) 17.31 Unvested as of June 30, 2017 659,676 $ 19.90 The fair value of each restricted stock unit is based on the closing market price on the date of grant. The Company issues PRSUs to selected key employees, that may three 0 150 75 125 not No first six 2017 177,741 first six 2016. A summary of the PRSU activity under our equity compensation plans for the six June 30, 2017 Number of Performance Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2016 508,478 $ 25.60 Granted - - Shares earned above target - - Vested - - Cancelled (10,112 ) 25.40 Unvested as of June 30, 2017 498,366 $ 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: Six Months Ended June 30, 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 (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 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, 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 six June 30, 2017 2016, Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted-average common shares outstanding – basic 80,520 80,105 80,416 80,407 Dilutive effect of stock options and unvested restricted stock units (1) 829 878 860 784 Weighted-average common shares outstanding – diluted 81,349 80,983 81,276 81,191 Net income attributable to Knight Transportation (1) $ 17,970 $ 24,918 $ 32,847 $ 47,935 Basic earnings per share $ 0.22 $ 0.31 $ 0.41 $ 0.60 Diluted earnings per share $ 0.22 $ 0.31 $ 0.40 $ 0.59 ( 1 We early adopted ASU 2016 09, fourth 2016. $1.8 December 31, 2016. three six June 30, 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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Number of anti-dilutive shares 379,127 1,274,322 312,128 1,185,126

Note 4 - Segment Information

Note 4 - Segment Information	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 4. Segment Information 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 no The following table sets forth revenue and operating income between the Trucking and Logistics segments for the three six June 30, 2017 2016 Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Six Months Ended June 30, 2017 Six Months Ended June 30, 2016 Revenues: $ % $ % $ % $ % Trucking Segment $ 220,323 80.6 $ 226,423 81.9 $ 439,013 80.6 $ 444,379 81.0 Logistics Segment 54,867 20.1 51,703 18.7 109,055 20.0 110,312 20.1 Subtotal 275,190 278,126 548,068 554,691 Intersegment Eliminations Trucking (53 ) 0.0 (34 ) 0.0 (81 ) 0.0 (72 ) 0.0 Intersegment Eliminations Logistics (1,894 ) (0.7) (1,774 ) (0.6) (3,562 ) (0.6) (6,213 ) (1.1) Total $ 273,243 100% $ 276,318 100% $ 544,425 100% $ 548,406 100% Operating Income: Trucking Segment $ 25,762 90.7 $ 35,286 92.7 $ 46,022 90.2 $ 71,208 92.7 Logistics Segment 2,648 9.3 2,795 7.3 5,026 9.8 5,600 7.3 Total $ 28,410 100% $ 38,081 100% $ 51,048 100% $ 76,808 100% No not not

Note 5 - Joint Ventures

Note 5 - Joint Ventures	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Joint Venture [Text Block]	Note 5. Joint Ventures 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	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
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 (“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 no $130.0 March 1, 2017 March 1, 2018, March 1, 2016 March 1, 2017. $2.5 We are self-insured for workers' compensation coverage. In the first 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

Note 7 - Property and Equipment

Note 7 - Property and Equipment	6 Months Ended
	Jun. 30, 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 not June 30, 2017 December 31, 2016, $4.9 $13.0

Note 8 - Goodwill and Intangibl

Note 8 - Goodwill and Intangibles, Net	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 8. 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. The changes in the carrying amounts of goodwill were as follows (dollars in thousands): Six Months Ended June 30, 2017 Goodwill at beginning of period $ 47,031 Amortization relating to deferred tax assets (10 ) Goodwill at end of period $ 47,021 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): June 30, 2017 December 31, 2016 Gross carrying amount $ 3,700 $ 3,700 Accumulated amortization (1,375 ) (1,125 ) Intangible assets, net $ 2,325 $ 2,575 Amortization expense associated with these intangible assets was $0.1 $0.2 three six June 30, 2017 2016, “Depreciation and amortization” on the accompanying condensed consolidated statements of income. Future amortization expense for intangible assets is estimated at $0.3 2017, $0.5 2018 2019, $0.4 2020 2021, $0.3 2022.

Note 9 - Investments and Relate

Note 9 - Investments and Related Commitments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Investment [Text Block]	Note 9. Investments and Related Commitments 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): June 30, 2017 December 31, 2016 Investment in Transportation Resource Partners (TRP) $ 211 $ 214 Investment in Transportation Resource Partners III (TRP III) 2,523 5,882 Investment in Transportation Resource Partners IV (TRP IV) 2,134 1,882 Investment in Transportation Resource Partners CoInvest Partners, (NTI) I, LP (TRP Coinvestment) 8,973 10,000 Investment in Transportation Resource Partners CoInvest Partners, (QLS) I, LP (TRP Coinvestment QLS) 7,062 9,735 $ 20,903 $ 27,713 In 2003, $5.0 2006, $5.5 $3,000 second 2017, no second 2016. In 2008, $15.0 2015, $2.1 June 30, 2017, $11.1 $1.8 $0.6 $3.6 second 2017, $0.5 second 2016. $1.1 $4.5 six June 30, 2017, $0.1 $0.4 six June 30, 2016. In 2015, $4.9 $2.4 $0.7 six June 30, 2017, $2.5 June 30, 2017. $0.4 $53,000 six June 30, 2017. In the first 2016, $10.0 no June 30, 2017. $4,000 second 2017, no second 2016. $1.0 six June 30, 2017, no six June 30, 2016. In the third 2016, $9.7 no June 30, 2017. $5,000 second 2017, $1.3 $4.0 six June 30, 2017.

Note 10 - Marketable Equity Sec

Note 10 - Marketable Equity Securities	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	Note 10. Marketable Equity Securities 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 six June 30, 2017 2016, Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Realized gains Sales proceeds - $ 2,330 - $ 5,183 Cost of securities sold - 856 - 2,114 Realized gain - $ 1,474 - $ 3,069 Realized gains, net of taxes - $ 907 - $ 1,888 During the third 2016, no June 30, 2017 December 31, 2016.

Note 11 - Assets Held for Sale

Note 11 - Assets Held for Sale	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Other Assets Disclosure [Text Block]	Note 11. Assets Held for Sale Revenue equipment that is not June 30, 2017 December 31, 2016, $13.8 $9.6 no twelve

Note 12 - Income Taxes

Note 12 - Income Taxes	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12. 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 not We recognize a tax benefit from an uncertain tax position when it is more likely than not 2012 2016 June 30, 2017, December 31, 2016, $0.7 If recognized, the $0.7 June 30, 2017 not 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 June 30, 2017, December 31, 2016, no

Note 13 - Company Share Repurch

Note 13 - Company Share Repurchase Program	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Treasury Stock [Text Block]	Note 13. Company Share Repurchase Program In 2011, 10.0 not not may 10b5 1 Under the share repurchase program, we made no three six June 30, 2017, 0.4 $9.5 three June 30, 2016, 1.5 $36.6 six June 30, 2016. June 30, 2017, 4.2

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurements	6 Months Ended
	Jun. 30, 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 not Level 3 not 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, 2017 December 31, 2016 ( Total Total Level One Level Two Level Three Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Restricted cash and investments: Money market funds $ 1,475 $ 1,385 $ 1,475 $ 1,385 - - - - Trading securities: Debt securities - municipal securities $ 1,838 $ 1,903 - - $ 1,838 $ 1,903 - -

Note 15 - Notes Receivable

Note 15 - Notes Receivable	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Notes Receivable [Text Block]	Note 15. Notes Receivable We provide financing to independent contractors and third 2.0% 20.0%. The notes receivable balances are classified separately between current and long-term on the accompanying condensed consolidated balance sheets. The current and long-term balance of our notes receivable at June 30, 2017 December 31, 2016, June 30, 2017 December 31, 2016 Notes receivable from independent contractors $ 1,501 $ 1,039 Notes receivable from third parties 1,994 2,808 Gross notes receivable 3,495 3,847 Allowance for doubtful notes receivable (231 ) (240 ) Total notes receivable, net of allowance 3,264 $ 3,607 Current portion, net of allowance 646 560 Long-term portion $ 2,618 $ 3,047

Note 16 - Line of Credit

Note 16 - Line of Credit	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	Note 16. 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 August 1, 2019. 0.625%, no June 30, 2017, $18.0 December 31, 2016. "APR") six June 30, 2017 1.40%. June 30, 2017, $34.8 $265.2 June 30, 2017. six June 30, 2017 December 31, 2016.

Note 17 - Recent Accounting Pro

Note 17 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 17. Recent Accounting Pronouncements In January 2017, 2017 04, 350 not December 15, 2019. In November 2016, 2016 18, 230 December 15, 2017, not In August 2016, 2016 15, 203 eight December 15, 2017. not In March 2016, 2016 08, 606 2014 09, 606 two December 15, 2017, no January 1, 2017. We are currently evaluating the effect that adopting the new guidance will have on our consolidated financial statements. We have established a team, including engaging external resources, to evaluate and implement this standard. We have identified revenue sources within our lines of business and developed a tool to facilitate documenting our contract reviews. Our process is ongoing and includes our assessment of when our performance obligations are satisfied, principal verses agent considerations as provided in ASU 2016 08, In February 2016, 2016 02, 842 12 not 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 2 - Stock-based Compensa25

Note 2 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Stock compensation expense for options, net of forfeitures $ 482 $ 513 $ 830 $ 884 Stock compensation (benefit)/expense for restricted stock units and performance restricted stock units, net of forfeitures (328 ) 1,288 743 1,697 Total stock compensation expense, net of forfeitures $ 154 $ 1,801 $ 1,573 $ 2,581
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 497,421 33.35 Exercised (342,307 ) 20.76 Forfeited (121,861 ) 26.56 Outstanding as of June 30, 2017 1,770,653 $ 26.29
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2017 2016 Dividend yield (1) 0.72 % 0.99 % Expected volatility (2) 27.95 % 27.91 % Risk-free interest rate (3) 1.49 % 0.90 % Expected term (4) 3.22 2.74 Weighted-average fair value of options granted $ 6.78 $ 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 124,145 33.35 Vested (124,991 ) 16.78 Forfeited (26,264 ) 17.31 Unvested as of June 30, 2017 659,676 $ 19.90
Share-based Compensation, Performance Shares Award Nonvested Activity [Table Text Block]	Number of Performance Restricted Stock Unit Awards Weighted Average Grant Date Fair Value Unvested as of December 31, 2016 508,478 $ 25.60 Granted - - Shares earned above target - - Vested - - Cancelled (10,112 ) 25.40 Unvested as of June 30, 2017 498,366 $ 25.60
Schedule of Share-based Payment Award, Equity Instruments Other than Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 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 (5) - 2.84 Weighted-average fair value of PRSUs granted - $ 23.89

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted-average common shares outstanding – basic 80,520 80,105 80,416 80,407 Dilutive effect of stock options and unvested restricted stock units (1) 829 878 860 784 Weighted-average common shares outstanding – diluted 81,349 80,983 81,276 81,191 Net income attributable to Knight Transportation (1) $ 17,970 $ 24,918 $ 32,847 $ 47,935 Basic earnings per share $ 0.22 $ 0.31 $ 0.41 $ 0.60 Diluted earnings per share $ 0.22 $ 0.31 $ 0.40 $ 0.59
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Number of anti-dilutive shares 379,127 1,274,322 312,128 1,185,126

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended June 30, 2017 Three Months Ended June 30, 2016 Six Months Ended June 30, 2017 Six Months Ended June 30, 2016 Revenues: $ % $ % $ % $ % Trucking Segment $ 220,323 80.6 $ 226,423 81.9 $ 439,013 80.6 $ 444,379 81.0 Logistics Segment 54,867 20.1 51,703 18.7 109,055 20.0 110,312 20.1 Subtotal 275,190 278,126 548,068 554,691 Intersegment Eliminations Trucking (53 ) 0.0 (34 ) 0.0 (81 ) 0.0 (72 ) 0.0 Intersegment Eliminations Logistics (1,894 ) (0.7) (1,774 ) (0.6) (3,562 ) (0.6) (6,213 ) (1.1) Total $ 273,243 100% $ 276,318 100% $ 544,425 100% $ 548,406 100% Operating Income: Trucking Segment $ 25,762 90.7 $ 35,286 92.7 $ 46,022 90.2 $ 71,208 92.7 Logistics Segment 2,648 9.3 2,795 7.3 5,026 9.8 5,600 7.3 Total $ 28,410 100% $ 38,081 100% $ 51,048 100% $ 76,808 100%

Note 8 - Goodwill and Intangi28

Note 8 - Goodwill and Intangibles, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Six Months Ended June 30, 2017 Goodwill at beginning of period $ 47,031 Amortization relating to deferred tax assets (10 ) Goodwill at end of period $ 47,021
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	June 30, 2017 December 31, 2016 Gross carrying amount $ 3,700 $ 3,700 Accumulated amortization (1,375 ) (1,125 ) Intangible assets, net $ 2,325 $ 2,575

Note 9 - Investments and Rela29

Note 9 - Investments and Related Commitments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Investments in and Advances to Affiliates [Table Text Block]	June 30, 2017 December 31, 2016 Investment in Transportation Resource Partners (TRP) $ 211 $ 214 Investment in Transportation Resource Partners III (TRP III) 2,523 5,882 Investment in Transportation Resource Partners IV (TRP IV) 2,134 1,882 Investment in Transportation Resource Partners CoInvest Partners, (NTI) I, LP (TRP Coinvestment) 8,973 10,000 Investment in Transportation Resource Partners CoInvest Partners, (QLS) I, LP (TRP Coinvestment QLS) 7,062 9,735 $ 20,903 $ 27,713

Note 10 - Marketable Equity S30

Note 10 - Marketable Equity Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Realized Gain (Loss) [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Realized gains Sales proceeds - $ 2,330 - $ 5,183 Cost of securities sold - 856 - 2,114 Realized gain - $ 1,474 - $ 3,069 Realized gains, net of taxes - $ 907 - $ 1,888

Note 14 - Fair Value Measurem31

Note 14 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Total Total Level One Level Two Level Three Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Balance at June 30, 2017 Balance at December 31, 2016 Restricted cash and investments: Money market funds $ 1,475 $ 1,385 $ 1,475 $ 1,385 - - - - Trading securities: Debt securities - municipal securities $ 1,838 $ 1,903 - - $ 1,838 $ 1,903 - -

Note 15 - Notes Receivable (Tab

Note 15 - Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, 2017 December 31, 2016 Notes receivable from independent contractors $ 1,501 $ 1,039 Notes receivable from third parties 1,994 2,808 Gross notes receivable 3,495 3,847 Allowance for doubtful notes receivable (231 ) (240 ) Total notes receivable, net of allowance 3,264 $ 3,607 Current portion, net of allowance 646 560 Long-term portion $ 2,618 $ 3,047

Note 1 - Financial Information

Note 1 - Financial Information (Details Textual) $ in Thousands	Apr. 10, 2017	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Business Combination, Acquisition Related Costs		$ 4,178		$ 4,178
Business Combination, Acquisition Related Costs, Net of Tax				$ 2,600
Knight-Swift Transportation Holdings Inc. Merger [Member]
Business Acquisition, Percentage of Voting Interests Acquired	46.00%
Knight-Swift Transportation Holdings Inc. Merger [Member] | Swift Transportation Company [Member]
Business Acquisition, Percentage of Voting Interests Acquired	54.00%
Knight-Swift Transportation Holdings Inc. Merger [Member] | Reverse Stock Split [Member] | Swift Transportation Company [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	0.72

Note 2 - Stock-based Compensa34

Note 2 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2014
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 5,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 328 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	497,421	569,480
Proceeds from Stock Options Exercised	$ 6,318	$ 6,710
Employee Stock Option [Member] | Weighted Average [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 10,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	5 years 219 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	124,145	4,350
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 36 days
Performance Shares [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
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, 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
Performance Shares [Member] | Weighted Average [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years

Note 2 - Stock-based Compensa35

Note 2 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock compensation expense	$ 154	$ 1,801	$ 1,573	$ 2,581
Employee Stock Option [Member]
Stock compensation expense	482	513	830	884
RSU and Performance Shares [Member]
Stock compensation expense	$ (328)	$ 1,288	$ 743	$ 1,697

Note 2 - Stock-based Compensa36

Note 2 - Stock-based Compensation - Option Award Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Beginning Balance (in shares)	1,737,400
Beginning Balance (in dollars per share)	$ 23.19
Granted (in shares)	497,421	569,480
Granted (in dollars per share)	$ 33.35
Exercised (in shares)	(342,307)
Exercised (in dollars per share)	$ 20.76
Forfeited (in shares)	(121,861)
Forfeited (in dollars per share)	$ 26.56
Ending Balance (in shares)	1,770,653
Ending Balance (in dollars per share)	$ 26.29

Note 2 - Stock-based Compensa37

Note 2 - Stock-based Compensation - Stock Option Fair Value Assumptions (Details) - Stock Compensation Plan [Member] - $ / shares		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Dividend yield (1)	[1]	0.72%	0.99%
Expected volatility (2)	[2]	27.95%	27.91%
Risk-free interest rate (3)	[3]	1.49%	0.90%
Expected term (4) (in years) (Year)	[4]	3 years 80 days	2 years 270 days
Weighted-average fair value of options granted (in dollars per share)		$ 6.78	$ 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	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Unvested (in shares)	686,786
Unvested (in dollars per share)	$ 16.46
Unvested (in dollars per share)	$ 19.90
Granted (in shares)	124,145	4,350
Granted (in dollars per share)	$ 33.35
Vested (in shares)	(124,991)
Vested (in dollars per share)	$ 16.78
Forfeited (in shares)	(26,264)
Forfeited (in dollars per share)	$ 17.31
Unvested (in shares)	659,676

Note 2 - Stock-based Compensa39

Note 2 - Stock-based Compensation - Performance Restricted Stock Unit Award Activity (Details) - Performance Shares [Member] - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Unvested (in shares)	508,478
Unvested (in dollars per share)	$ 25.60
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)
Forfeited (in shares)	(10,112)
Forfeited (in dollars per share)	$ 25.40
Unvested (in shares)	498,366

Note 2 - Stock-based Compensa40

Note 2 - Stock-based Compensation - Performance Shares Fair Value Assumptions (Details) - Performance Shares [Member]		6 Months Ended
		Jun. 30, 2017$ / shares	Jun. 30, 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 (4) (in years) (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		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 10,828	$ 14,618	$ 19,058	$ 30,955
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		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Weighted-average common shares outstanding - basic (in shares)		80,520	80,105	80,416	80,407
Dilutive effect of stock options and unvested restricted stock units(1) (in shares)	[1]	829	878	860	784
Weighted-average common shares outstanding - diluted (in shares)		81,349	80,983	81,276	81,191
Net income attributable to Knight Transportation(1)	[1]	$ 17,970	$ 24,918	$ 32,847	$ 47,935
Basic earnings per share (in dollars per share)		$ 0.22	$ 0.31	$ 0.41	$ 0.60
Diluted earnings per share (in dollars per share)		$ 0.22	$ 0.31	$ 0.40	$ 0.59
[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 and six months ended June 30, 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Number of anti-dilutive shares (in shares)	379,127	1,274,322	312,128	1,185,126

Note 4 - Segment Information (D

Note 4 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2017
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue	$ 273,243	$ 276,318	$ 544,425	$ 548,406
Percentage of revenue	100.00%	100.00%	100.00%	100.00%
Operating income	$ 28,410	$ 38,081	$ 51,048	$ 76,808
Percentage of operating income	100.00%	100.00%	100.00%	100.00%
Operating Segments [Member]
Revenue	$ 275,190	$ 278,126	$ 548,068	$ 554,691
Percentage of revenue
Operating Segments [Member] | Trucking Segment [Member]
Revenue	$ 220,323	$ 226,423	$ 439,013	$ 444,379
Percentage of revenue	80.60%	81.90%	80.60%	81.00%
Operating income	$ 25,762	$ 35,286	$ 46,022	$ 71,208
Percentage of operating income	90.70%	92.70%	90.20%	92.70%
Operating Segments [Member] | Logistics Segment [Member]
Revenue	$ 54,867	$ 51,703	$ 109,055	$ 110,312
Percentage of revenue	20.10%	18.70%	20.00%	20.10%
Operating income	$ 2,648	$ 2,795	$ 5,026	$ 5,600
Percentage of operating income	9.30%	7.30%	9.80%	7.30%
Intersegment Eliminations [Member] | Trucking Segment [Member]
Revenue	$ (53)	$ (34)	$ (81)	$ (72)
Percentage of revenue	0.00%	0.00%	0.00%	0.00%
Intersegment Eliminations [Member] | Logistics Segment [Member]
Revenue	$ (1,894)	$ (1,774)	$ (3,562)	$ (6,213)
Percentage of revenue	(0.70%)	(0.60%)	(0.60%)	(1.10%)

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 ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	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	Jun. 30, 2017	Dec. 31, 2016
Construction in Progress, Gross	$ 4.9	$ 13

Note 8 - Goodwill and Intangi49

Note 8 - Goodwill and Intangibles, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			7 years 219 days
Finite-Lived Intangible Assets, Amortization Expense, Year Three	$ 0.5		$ 0.5
Finite-Lived Intangible Assets, Amortization Expense, Year Four	0.4		0.4
Finite-Lived Intangible Assets, Amortization Expense, Year Five	0.4		0.4
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	0.3		0.3
Amortization of Intangible Assets	0.1	$ 0.2	0.1	$ 0.2
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	0.3		0.3
Finite-Lived Intangible Assets, Amortization Expense, Year Two	$ 0.5		$ 0.5

Note 8 - Goodwill and Intangi50

Note 8 - Goodwill and Intangibles, Net - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill at beginning of period	$ 47,031
Amortization relating to deferred tax assets	(10)
Goodwill at end of period	$ 47,021

Note 8 - Goodwill and Intangi51

Note 8 - Goodwill and Intangibles, Net - Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Gross carrying amount	$ 3,700	$ 3,700
Accumulated amortization	(1,375)	(1,125)
Intangible assets, net	$ 2,325	$ 2,575

Note 9 - Investments and Rela52

Note 9 - Investments and Related Commitments (Details Textual) - USD ($)	3 Months Ended				6 Months Ended		30 Months Ended
	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 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	$ 20,903,000				$ 20,903,000		$ 20,903,000	$ 27,713,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net					56,000
Transportation Resource Partners [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	211,000				211,000		211,000	214,000				$ 5,000,000
Amounts Committed to Invest											$ 5,500,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	3,000		$ 0
Transportation Resource Partners III [Member]
Proceeds from Equity Method Investment, Distribution, Return of Capital	3,600,000				4,500,000	400,000
Income (Loss) from Equity Method Investments	600,000		500,000		1,100,000	100,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	2,523,000				2,523,000		2,523,000	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		11,100,000
Remaining Investment Commitment	1,800,000				1,800,000		1,800,000
Transportation Resource Partners IV [Member]
Proceeds from Equity Method Investment, Distribution, Return of Capital					400,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	2,134,000				2,134,000		2,134,000	1,882,000
Amounts Committed to Invest									$ 4,900,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net					53,000
Payments for (Proceeds from) Investments					700,000		2,400,000
Remaining Investment Commitment	2,500,000				2,500,000		2,500,000
Transportation Resource Partners NTI [Member]
Income (Loss) from Equity Method Investments	4,000		0		(1,000,000)	$ 0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	8,973,000				8,973,000		8,973,000	10,000,000
Payments to Acquire Equity Method Investments				$ 10,000,000
Remaining Investment Commitment	0				0		0
Transportation Resource Partners (QLS) [Member]
Proceeds from Equity Method Investment, Distribution, Return of Capital					4,000,000
Income (Loss) from Equity Method Investments	5,000		$ 1,300,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	7,062,000				7,062,000		7,062,000	$ 9,735,000
Payments to Acquire Equity Method Investments		$ 9,700,000
Remaining Investment Commitment	$ 0				$ 0		$ 0

Note 9 - Investments and Rela53

Note 9 - Investments and Related Commitments - Investments (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2003
Investments	$ 20,903,000	$ 27,713,000
Transportation Resource Partners [Member]
Investments	211,000	214,000	$ 5,000,000
Transportation Resource Partners III [Member]
Investments	2,523,000	5,882,000
Transportation Resource Partners IV [Member]
Investments	2,134,000	1,882,000
Transportation Resource Partners NTI [Member]
Investments	8,973,000	10,000,000
Transportation Resource Partners (QLS) [Member]
Investments	$ 7,062,000	$ 9,735,000

Note 10 - Marketable Equity S54

Note 10 - Marketable Equity Securities (Details Textual) - USD ($) $ in Thousands	Jun. 30, 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Sales proceeds		$ 2,330		$ 5,183
Cost of securities sold		856		2,114
Realized gain		1,474		3,069
Realized gains, net of taxes		$ 907		$ 1,888

Note 11 - Assets Held for Sale

Note 11 - Assets Held for Sale (Details Textual) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Disposal Group, Including Discontinued Operation, Assets	$ 13.8	$ 9.6

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0		$ 0
Unrecognized Tax Benefits	700
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 700
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 700
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	May 31, 2011
Treasury Stock, Value, Acquired, Cost Method		$ 9.5		$ 36.6
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	4,200		4,200
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					10,000
Treasury Stock, Shares, Acquired	0	400	0	1,500

Note 14 - Fair Value Measurem59

Note 14 - Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Money market funds	$ 1,475	$ 1,385
Debt securities - municipal securities	1,838	1,903
Fair Value, Inputs, Level 1 [Member]
Money market funds	1,475	1,385
Debt securities - municipal securities	0	0
Fair Value, Inputs, Level 2 [Member]
Money market funds	0	0
Debt securities - municipal securities	1,838	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)	6 Months Ended
	Jun. 30, 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	Jun. 30, 2017	Dec. 31, 2016
Notes receivable from independent contractors	$ 1,501	$ 1,039
Notes receivable from third parties	1,994	2,808
Gross notes receivable	3,495	3,847
Allowance for doubtful notes receivable	(231)	(240)
Total notes receivable, net of allowance	3,264	3,607
Current portion, net of allowance	646	560
Long-term portion	$ 2,618	$ 3,047

Note 16 - Line of Credit (Detai

Note 16 - Line of Credit (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 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%
Letter of Credit [Member]
Long-term Line of Credit	$ 34,800
Line of Credit Facility, Remaining Borrowing Capacity	$ 265,200