Restructuring Charges

12 Months Ended

Dec. 31, 2019

ESTRUCTURING CHARGES

On July 29, 2019, the Company’s Board of Directors approved a structured shutdown of its FTFM service offering within its Truckload reporting segment which was substantially complete as of August 31, 2019. As part of the shutdown, $63.7 million of restructuring charges were incurred during the year ended December 31, 2019. All of the restructuring charges were recorded

within our Truckload reporting segment. Pre-tax losses from our FTFM service offering were $34.4 million, $29.2 million, and $15.4 million for the years ended December 31, 2019, 2018, and 2017, respectively.

The costs associated with the shutdown are presented separately on the consolidated statements of comprehensive income within restructuring charges and are summarized in the following table for the year ended December 31, 2019. No costs were incurred for the years ended December 31, 2018 and 2017.



	Year Ended December 31,
(in millions)	2019
Impairment charges and losses on asset disposals	$	46.1
Receivables write-down	3.9
Other costs	13.7
Total restructuring charges	$	63.7

As of December 31, 2019 and 2018, FTFM restructuring liabilities are classified as current liabilities on the consolidated balance sheets and balances are as follows:



(in millions)	Restructuring Liabilities
Balance at December 31, 2018	$	—
Restructuring and related costs	13.7
Cash payments	(8.6		)
Balance at December 31, 2019	$	5.1