Related Party Transactions

9 Months Ended

Sep. 30, 2011

Related Party Transactions [Abstract]

Related Party Transactions

6.    Related Party Transactions

The Company purchases trailers and trailer refrigeration units that are used in our operations from W&B Service Company, L.P. (“W&B”), an entity in which we own a 19.9% equity interest. The Company accounts for that investment under the equity method of accounting.  As of September 30, 2011 and 2010, our equity investment in W&B was $1.5 million, which is included in "Other Assets" in the accompanying consolidated condensed balance sheets.

For the nine months ended September 30, 2011 and 2010, our equity in the earnings of W&B before profit elimination was $0.7 million and $0.4 million, respectively. Cash distributions to us from W&B’s earnings were $1.0 million for the same period in 2011 and 2010, respectively.

During the three months ended September 30, 2011 and 2010, the Company’s purchases from W&B for trailers and refrigeration units totaled $19.5 million and $11.5 million, respectively.  During the nine month periods ended September 30, 2011 and 2010, the purchases were $23.1 million and $11.5 million, respectively.  The Company also utilizes W&B to provide routine maintenance and warranty repair of trailers and refrigeration units.  During the three months ended September 30, 2011 and 2010, W&B invoiced the Company $0.2 million and $0.3 million, respectively, for maintenance and repair services, accessories and parts.   During the nine months ended September 30, 2011 and 2010, W&B invoiced the Company $0.8 million and $0.9 million, respectively, for maintenance and repair services, accessories and parts.