EX-99.1 2 d714345dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

QUARTERLY FINANCIAL INFORMATION BY SEGMENT (UNAUDITED)(a)

FOR THE TWO YEAR PERIOD ENDED DECEMBER 31, 2013

(Amounts in thousands)

 

     Three Months Ended     Years Ended December 31,  
     3/31/2012     6/30/2012     9/30/2012     12/31/2012     3/31/2013     6/30/2013     9/30/2013     12/31/2013     2012     2013  

Operating revenue:

                    

Truckload

   $ 551,247        575,193        564,802        591,100        559,595        588,724        579,494        585,222      $ 2,282,342        2,313,035   

Dedicated

     171,539        181,873        182,843        188,150        179,226        182,651        184,550        192,502        724,405        738,929   

Central Refrigerated

     101,389        103,772        104,042        106,530        106,402        111,238        115,339        119,552        415,733        452,531   

Intermodal

     73,647        86,145        91,745        103,957        83,264        90,994        96,478        105,339        355,494        376,075   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Subtotal

     897,822        946,983        943,432        989,737        928,487        973,607        975,861        1,002,615        3,777,974        3,880,570   

Nonreportable segments (b)

     66,908        62,341        65,123        74,450        72,057        71,915        63,982        79,899        268,821        287,853   

Intersegment eliminations

     (20,912     (17,241     (15,931     (16,627     (18,936     (16,451     (7,716     (7,125     (70,710     (50,228
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated operating revenue

   $ 943,818        992,083        992,624        1,047,560        981,608        1,029,071        1,032,127        1,075,389      $ 3,976,085        4,118,195   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income (loss):

                    

Truckload

   $ 46,554        67,994        53,818        77,639        42,403        64,614        58,053        60,893      $ 246,005        225,963   

Dedicated

     14,507        18,515        17,082        23,922        18,954        24,263        20,508        19,795        74,026        83,520   

Central Refrigerated

     3,710        6,445        4,516        6,663        4,721        5,660        3,422        3,879        21,334        17,682   

Intermodal (c)

     (3,806     141        (2,238     (583     (1,604     788        1,531        4,904        (6,486     5,619   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Subtotal

     60,965        93,095        73,178        107,641        64,474        95,325        83,514        89,471        334,879        332,784   

Nonreportable segments (b)

     2,608        1,954        4,012        8,363        5,244        4,941        906        13,084        16,937        24,175   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated operating income

   $ 63,573        95,049        77,190        116,004        69,718        100,266        84,420        102,555      $ 351,816        356,959   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating Ratio

                    

Truckload

     91.6     88.2     90.5     86.9     92.4     89.0     90.0     89.6     89.2     90.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dedicated

     91.5     89.8     90.7     87.3     89.4     86.7     88.9     89.7     89.8     88.7
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Central Refrigerated

     96.3     93.8     95.7     93.7     95.6     94.9     97.0     96.8     94.9     96.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Intermodal (c)

     105.2     99.8     102.4     100.6     101.9     99.1     98.4     95.3     101.8     98.5
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted Operating Ratio (d):

                    

Truckload

     89.3     84.9     88.0     83.3     90.4     86.2     87.4     87.0     86.3     87.7
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dedicated

     89.7     87.4     88.6     84.3     86.9     83.7     86.3     87.4     87.5     86.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Central Refrigerated

     95.2     91.8     94.4     91.9     94.2     93.5     96.3     96.0     93.3     95.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Intermodal (c)

     106.5     99.8     103.1     100.7     102.5     98.9     98.0     94.2     102.3     98.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) In the first quarter of 2014, we reorganized out reportable segments to reflect our revised reporting structure of our lines of businesses following the integration of Central Refrigerated. In association with the organizational reorganization, the operations of Central Refrigerated’s Trailer on Flat Car (“TOFC”) business will be reported within our Intermodal segment and the operations of Central Refrigerated’s logistic business, third party leasing and other services provided to owner-operators will be reported within our other non-reportable segment. All prior period historical results related to the above noted segment reorganization have been retrospectively recast.
(b) Our nonreportable segments are comprised of our freight brokerage and logistics management services, IEL, insurance and shop activities.
(c) During 2012, our Intermodal reportable segment incurred an increase in its insurance and claims expense primarily related to one claim associated with a drayage accident, which increased the Intermodal Operating Ratio and Adjusted Operating Ratio by approximately 420 basis points and 530 basis points, respectively, for the three months ended March 31, 2012, 760 basis points and 970 basis points, respectively, for the three months ended September 30, 2012 and 280 basis points and 360 basis points, respectively, for the year ended December 31, 2012.
(d) See our reconciliation of Adjusted Operating Ratio by Segment at the schedule titled “Adjusted Operating Income and Operating Ratio Reconciliation by Segment”.