XML 35 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUPPLEMENTARY DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
SUPPLEMENTARY DATA (UNAUDITED)
SUPPLEMENTARY DATA (UNAUDITED)
Our unaudited results of operations for each of the quarters in the years ended December 31, 2017 and 2016, are summarized below (in thousands, except per share data). 
2017
 
March 31 (a)
 
June 30
 
September 30
 
December 31 (b)
Revenues:
 
 
 
 
 
 
 
 
Transportation 
 
$
3,102,043

 
$
3,319,995

 
$
3,433,701

 
$
3,647,167

Sourcing
 
313,082

 
390,023

 
350,750

 
312,619

Total revenues
 
3,415,125

 
3,710,018

 
3,784,451

 
3,959,786

Costs and expenses:
 
 
 
 
 
 
 
 
Purchased transportation and related services
 
2,563,885

 
2,781,355

 
2,869,616

 
3,042,434

Purchased products sourced for resale
 
282,674

 
354,874

 
320,989

 
285,503

Personnel expenses
 
290,504

 
284,220

 
293,204

 
311,599

Other selling, general, and administrative expenses
 
90,104

 
107,749

 
106,177

 
109,374

Total costs and expenses
 
3,227,167

 
3,528,198

 
3,589,986

 
3,748,910

Income from operations
 
187,958

 
181,820

 
194,465

 
210,876

Net income
 
$
122,080

 
$
111,071

 
$
119,186

 
$
152,556

Basic net income per share
 
$
0.86

 
$
0.79

 
$
0.85

 
$
1.09

Diluted net income per share
 
$
0.86

 
$
0.78

 
$
0.85

 
$
1.08

Basic weighted average shares outstanding
 
141,484

 
141,061

 
140,422

 
139,572

Dilutive effect of outstanding stock awards
 
374

 
526

 
600

 
1,152

Diluted weighted average shares outstanding
 
141,858

 
141,587

 
141,022

 
140,724

Market price range of common stock:
 
 
 
 
 
 
 
 
High
 
$
81.16

 
$
78.31

 
$
76.16

 
$
89.89

Low
 
$
72.17

 
$
66.33

 
$
63.41

 
$
74.30

__________________________

(a) Our provision for income taxes decreased in the first quarter of 2017 by $13.7 million due to our adoption of ASU 2016-09.
(b) Our provision for income taxes decreased in the fourth quarter by $19.7 million due to the benefit of deductions under section 199 of the Internal Revenue Code and $12.1 million due to the impact of the Tax Act.
2016
 
March 31
 
June 30
 
September 30
 
December 31
Revenues:
 
 
 
 
 
 
 
 
Transportation 
 
$
2,713,688

 
$
2,881,496

 
$
2,998,583

 
$
3,110,978

Sourcing
 
360,255

 
418,245

 
357,171

 
303,997

Total revenues
 
3,073,943

 
3,299,741

 
3,355,754

 
3,414,975

Costs and expenses:
 
 
 
 
 
 
 
 
Purchased transportation and related services
 
2,179,622

 
2,324,995

 
2,469,939

 
2,575,378

Purchased products sourced for resale
 
330,986

 
380,531

 
327,353

 
278,081

Personnel expenses
 
277,497

 
270,251

 
256,883

 
260,305

Other selling, general, and administrative expenses
 
86,886

 
90,217

 
90,312

 
107,646

Total costs and expenses
 
2,874,991

 
3,065,994

 
3,144,487

 
3,221,410

Income from operations
 
198,952

 
233,747

 
211,267

 
193,565

Net income
 
$
118,963

 
$
143,090

 
$
129,028

 
$
122,303

Basic net income per share
 
$
0.83

 
$
1.00

 
$
0.90

 
$
0.86

Diluted net income per share
 
$
0.83

 
$
1.00

 
$
0.90

 
$
0.86

Basic weighted average shares outstanding
 
143,525

 
142,998

 
142,611

 
141,711

Dilutive effect of outstanding stock awards
 
133

 
218

 
272

 
453

Diluted weighted average shares outstanding
 
143,658

 
143,216

 
142,883

 
142,164

Market price range of common stock:
 
 
 
 
 
 
 
 
High
 
$
75.11

 
$
76.10

 
$
75.69

 
$
77.89

Low
 
$
60.31

 
$
69.84

 
$
66.62

 
$
65.57