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Commitments
3 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments
Commitments
Purchase Commitments
As of March 31, 2019, the Company had outstanding commitments to acquire revenue equipment of $593.7 million in 2019 ($539.5 million of which were tractor commitments) and none thereafter. These purchases may be financed through any combination of operating leases, finance leases, debt, proceeds from sales of existing equipment, and cash flows from operations.
As of March 31, 2019, the Company had outstanding purchase commitments to acquire facilities and non-revenue equipment of $7.1 million in the remainder of 2019, $0.6 million in 2020, and none thereafter. Factors such as costs and opportunities for future terminal expansions may change the amount of such expenditures.
Transportation Resource Partners
Since 2003, Knight has entered into partnership agreements with entities that make privately-negotiated equity investments, including Transportation Resource Partners, Transportation Resource Partners III, LP, TRP Capital Partners, LP, TRP CoInvest Partners, (NTI) I, LP, TRP CoInvest Partners, (QLS) I, LP, and TRP Coinvest Partners, FFR I, LP. In these agreements, Knight committed to invest in return for an ownership percentage. During the first quarter of 2019, Knight entered into and fulfilled a $5.0 million commitment to invest in TRP Coinvest FFR. There were no other material changes related to the TRP commitments during the first quarter of 2019.