Exhibit 99.20

ADJUSTED OPERATING INCOME AND OPERATING RATIO RECONCILIATION (UNAUDITED) (a)(b)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2012 AND 2011

(IN THOUSANDS)

	Three Months Ended December 31, 2012												Three Months Ended December 31, 2011
	Swift Transportation Company			Central Refrigerated Transportation, Inc.			Intercompany Elimination Entries			Total (recast)			Swift Transportation Company			Central Refrigerated Transportation, Inc.			Intercompany Elimination Entries			Total (recast)
Operating revenue	$	922,619		$	125,444		$	(503	)	$	1,047,560		$	860,723		$	118,614		$	(448	)	$	978,889
Less: Fuel surcharge revenue		182,723			26,526			—			209,249			165,449			25,178			—			190,627
Revenue xFSR		739,896			98,918			(503	)		838,311			695,274			93,436			(448	)		788,262
Operating expenses		815,509			116,550			(503	)		931,556			763,703			111,677			(448	)		874,932
Adjusted for:
Fuel surcharge revenue		(182,723	)		(26,526	)		—			(209,249	)		(165,449	)		(25,178	)		—			(190,627	)
Amortization of certain intangibles (c)		(3,912	)		—			—			(3,912	)		(4,113	)		—			—			(4,113	)
Non-cash impairments (d)		(2,322	)		—			—			(2,322	)		—			—			—			—
Adjusted operating expense		626,552			90,024			(503	)		716,073			594,141			86,499			(448	)		680,192
Adjusted operating income	$	113,344		$	8,894		$	—		$	122,238		$	101,133		$	6,937		$	—		$	108,070
Adjusted Operating Ratio		84.7	%		91.0	%					85.4	%		85.5	%		92.6	%					86.3	%
Operating Ratio		88.4	%		92.9	%					88.9	%		88.7	%		94.2	%					89.4	%

(a) We define Adjusted Operating Ratio as (a) total operating expenses, less (i) fuel surcharges, (ii) amortization of the intangibles from our 2007 going-private transaction, (iii) non-cash impairment charges, (iv) other special non-cash items, and (v) excludable transaction costs, as a percentage of (b) total revenue excluding fuel surcharge revenue. We believe fuel surcharge is sometimes volatile and eliminating the impact of this source of revenue (by netting fuel surcharge revenue against fuel expense) affords a more consistent basis for comparing our results of operations. We also believe excluding impairments, non-comparable nature of the intangibles from our going-private transaction and other special items enhances the comparability of our performance from period to period. Adjusted Operating Ratio is not a recognized measure under GAAP. Adjusted Operating Ratio should be considered in addition to, not as a substitute for, or superior to, measures of financial performance in accordance with GAAP.

(b) On August 6, 2013, Swift Transportation Company (the “Company” or “Swift”) entered into a Stock Purchase Agreement with the shareholders of Central Refrigerated Transportation, Inc. (“Central”), pursuant to which the Company acquired all of the outstanding capital stock of Central (the “Acquisition”) in a cash transaction valued at $225 million. Mr. Jerry Moyes, the Chief Executive Officer and controlling stockholder of Swift, was the majority shareholder of Central. Given Mr. Moyes’ majority ownership in both Swift and Central, the Acquisition is accounted for as a combination of entities under common control similar to the pooling of interest method. Under common control accounting, the historical results of Central have been combined with Swift’s. The above Consolidating Adjusted Operating Income and Operating Ratio for the three months ended December 31, 2012 and 2011 reflects the combination of the entities as if the Acquisition was effective on January 1, 2011.

(c) Amortization of certain intangibles reflects the non-cash amortization expense of $3.9 million and $4.1 million for the three months ended December 31, 2012 and 2011, respectively, relating to certain intangible assets identified in the 2007 going-private transaction through which Swift Corporation acquired Swift Transportation Co.

(d) In the fourth quarter of 2012, we incurred a $2.3 million impairment charge for a deposit related to certain fuel technology equipment and a related asset as the supplier ceased operations.