EX-99.2 3 ex992.htm QUARTERLY SEGMENT RESULTS OF OPERATIONS ex992.htm
Exhibit 99.2
 
Con-way Inc.
Freight Segment Statements of Operating Results
(Dollars in thousands)
                               
                           
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
   
2010
   
2010
   
2010
   
2010
   
2010
 
                               
Revenue before intersegment eliminations
  $ 725,003     $ 816,965     $ 797,078     $ 736,018     $ 3,075,064  
                                         
 Salaries, wages and employee benefits
    356,834       389,091       380,441       366,146       1,492,512  
Purchased transportation
    120,007       138,317       134,599       117,483       510,406  
Other operating expenses
    113,837       117,515       119,213       108,038       458,603  
Fuel and fuel-related taxes
    77,181       84,629       76,995       77,822       316,627  
Depreciation and amortization
    22,916       25,343       27,082       26,050       101,391  
Maintenance
    21,676       22,195       22,602       21,552       88,025  
Rents and leases
    11,408       13,686       13,078       11,046       49,218  
Purchased labor
    4,297       8,963       10,006       6,108       29,374  
Total operating expenses
    728,156       799,739       784,016       734,245       3,046,156  
Operating income (loss)
  $ (3,153 )   $ 17,226     $ 13,062     $ 1,773     $ 28,908  
                                         
                                         
                                   
Twelve
 
      Three Months Ended  
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
     2009      2009      2009      2009      2009  
                                         
Revenue before intersegment eliminations
  $ 573,815     $ 649,349     $ 704,459     $ 696,366     $ 2,623,989  
                                         
 Salaries, wages and employee benefits
    322,555       310,364       341,886       342,940       1,317,745  
Purchased transportation
    79,948       91,706       114,783       116,026       402,463  
Other operating expenses
    98,548       96,744       106,211       103,089       404,592  
Fuel and fuel-related taxes
    44,817       50,871       61,200       70,767       227,655  
Depreciation and amortization
    26,793       27,133       27,133       25,674       106,733  
Maintenance
    17,503       17,177       20,959       20,681       76,320  
Rents and leases
    6,753       6,115       8,174       10,845       31,887  
Purchased labor
    285       245       1,297       3,509       5,336  
Total operating expenses
    597,202       600,355       681,643       693,531       2,572,731  
Operating income (loss)
  $ (23,387 )   $ 48,994     $ 22,816     $ 2,835     $ 51,258  
                                         

 
 

 

Con-way Inc.
Logistics Segment Statements of Operating Results
(Dollars in thousands)
                               
                           
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
   
2010
   
2010
   
2010
   
2010
   
2010
 
                               
Revenue before intersegment eliminations
  $ 355,183     $ 385,775     $ 370,049     $ 366,981     $ 1,477,988  
Purchased transportation
    (210,934 )     (242,978 )     (229,320 )     (223,157 )     (906,389 )
Net revenue
    144,249       142,797       140,729       143,824       571,599  
                                         
 Salaries, wages and employee benefits
    52,232       54,285       54,770       56,839       218,126  
Other operating expenses
    37,197       36,016       35,624       39,337       148,174  
Fuel and fuel-related taxes
    213       216       187       230       846  
Depreciation and amortization
    3,063       3,201       3,168       2,794       12,226  
Maintenance
    574       591       642       810       2,617  
Rents and leases
    16,245       15,506       15,391       16,550       63,692  
Purchased labor
    19,102       19,974       20,815       20,571       80,462  
 Loss from impairment of goodwill and intangible assets
    2,767       -       16,414       -       19,181  
Total operating expenses excluding purchased transportation
    131,393       129,789       147,011       137,131       545,324  
Operating income (loss)
  $ 12,856     $ 13,008     $ (6,282 )   $ 6,693     $ 26,275  
                                         
                                         
                                   
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
     2009      2009      2009      2009      2009  
                                         
Revenue before intersegment eliminations
  $ 316,477     $ 327,622     $ 346,352     $ 341,443     $ 1,331,894  
Purchased transportation
    (191,244 )     (200,252 )     (215,048 )     (205,168 )     (811,712 )
Net revenue
    125,233       127,370       131,304       136,275       520,182  
                                         
 Salaries, wages and employee benefits
    47,294       50,007       50,942       52,190       200,433  
Other operating expenses
    38,113       36,915       36,749       39,670       151,447  
Fuel and fuel-related taxes
    388       357       363       303       1,411  
Depreciation and amortization
    3,253       2,891       2,989       3,269       12,402  
Maintenance
    771       647       685       649       2,752  
Rents and leases
    15,883       15,468       15,492       16,246       63,089  
Purchased labor
    14,557       13,286       14,552       18,025       60,420  
Total operating expenses excluding purchased transportation
    120,259       119,571       121,772       130,352       491,954  
Operating income
  $ 4,974     $ 7,799     $ 9,532     $ 5,923     $ 28,228  
                                         


 
 

 

Con-way Inc.
Truckload Segment Statements of Operating Results
(Dollars in thousands)
                               
                           
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
   
2010
   
2010
   
2010
   
2010
   
2010
 
                               
Revenue before intersegment eliminations
  $ 140,616     $ 145,454     $ 140,655     $ 143,016     $ 569,741  
                                         
 Salaries, wages and employee benefits
    52,918       52,710       53,199       53,484       212,311  
Purchased transportation
    6,188       6,437       6,073       5,686       24,384  
Other operating expenses
    16,618       18,697       15,731       14,650       65,696  
Fuel and fuel-related taxes
    36,900       37,431       35,640       37,254       147,225  
Depreciation and amortization
    15,349       15,323       16,608       16,829       64,109  
Maintenance
    9,162       9,139       7,334       7,275       32,910  
Rents and leases
    219       261       257       259       996  
Purchased labor
    287       324       338       317       1,266  
Total operating expenses
    137,641       140,322       135,180       135,754       548,897  
Operating income
  $ 2,975     $ 5,132     $ 5,475     $ 7,262     $ 20,844  
                                         
                                         
                                   
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
 
December 31,
 
     2009      2009      2009      2009      2009  
                                         
Revenue before intersegment eliminations
  $ 134,783     $ 143,298     $ 146,251     $ 139,739     $ 564,071  
                                         
 Salaries, wages and employee benefits
    55,383       59,361       56,789       54,401       225,934  
Purchased transportation
    5,060       6,074       6,182       6,026       23,342  
Other operating expenses
    19,711       16,545       17,083       15,236       68,575  
Fuel and fuel-related taxes
    28,568       31,958       34,188       35,110       129,824  
Depreciation and amortization
    16,346       14,932       13,837       13,776       58,891  
Maintenance
    6,857       6,863       7,012       6,440       27,172  
Rents and leases
    206       213       195       212       826  
Purchased labor
    517       473       345       330       1,665  
 Loss from impairment of goodwill and intangible assets
    134,813       -       -       -       134,813  
Total operating expenses
    267,461       136,419       135,631       131,531       671,042  
Operating income (loss)
  $ (132,678 )   $ 6,879     $ 10,620     $ 8,208     $ (106,971 )
                                         

 
 

 

Con-way Inc.
Consolidated Statements of Operating Results
(Dollars in thousands)
                               
                           
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
   
December 31,
 
   
2010
   
2010
   
2010
   
2010
   
2010
 
                               
Revenue
  $ 1,161,911     $ 1,306,263     $ 1,270,183     $ 1,213,643     $ 4,952,000  
                                         
Salaries, wages and employee benefits
    489,459       523,950       517,221       498,203       2,028,833  
Purchased transportation
    277,641       344,039       331,137       313,031       1,265,848  
Other operating expenses
    133,751       140,191       137,563       136,353       547,858  
Fuel and fuel-related taxes
    114,349       122,335       112,863       115,450       464,997  
Depreciation and amortization
    45,026       47,938       50,568       48,970       192,502  
Maintenance
    31,485       32,016       30,640       29,723       123,864  
Rents and leases
    28,732       30,319       29,622       28,639       117,312  
Purchased labor
    24,301       30,043       31,654       27,437       113,435  
 Loss from impairment of goodwill and intangible assets
    2,767       -       16,414       -       19,181  
Total operating expenses
    1,147,511       1,270,831       1,257,682       1,197,806       4,873,830  
Operating income
  $ 14,400     $ 35,432     $ 12,501     $ 15,837     $ 78,170  
                                         
                                         
                                   
Twelve
 
   
Three Months Ended
 
Months Ended
 
   
March 31,
   
June 30,
   
September 30,
 
December 31,
   
December 31,
 
     2009      2009      2009      2009      2009  
                                         
Revenue
  $ 962,932     $ 1,056,333     $ 1,133,441     $ 1,116,533     $ 4,269,239  
                                         
Salaries, wages and employee benefits
    458,416       445,698       476,454       477,816       1,858,384  
Purchased transportation
    213,541       232,509       271,842       265,540       983,432  
Other operating expenses
    118,531       118,891       131,408       125,673       494,503  
Fuel and fuel-related taxes
    73,812       83,223       95,786       106,216       359,037  
Depreciation and amortization
    50,104       48,858       47,390       46,059       192,411  
Maintenance
    25,159       24,712       28,690       27,824       106,385  
Rents and leases
    23,496       22,458       24,497       27,931       98,382  
Purchased labor
    15,372       14,018       16,240       22,190       67,820  
 Loss from impairment of goodwill and intangible assets
    134,813       -       -       -       134,813  
Total operating expenses
    1,113,244       990,367       1,092,307       1,099,249       4,295,167  
Operating income (loss)
  $ (150,312 )   $ 65,966     $ 41,134     $ 17,284     $ (25,928 )