Related Party Transactions

3 Months Ended

Mar. 31, 2012

Related Party Transactions [Abstract]

Related Party Transactions

6.    Related Party Transactions

The Company purchases trailers and trailer refrigeration units we use 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 March 31, 2012 and 2011, our equity investment in W&B was $1.4 million, which is included in "Other Assets" in the accompanying consolidated condensed balance sheets.

During the three months ended March 31, 2012 and 2011, our equity in the earnings of W&B was $235,000 and $99,000, respectively. Cash distributions to us from W&B’s earnings were $31,000 and $605,000 for the same period in 2012 and 2011, respectively.

During the three months ended March 31, 2012 and 2011, the Company did not make any purchases from W&B for trailers and refrigeration units.  The Company also utilizes W&B to provide routine maintenance and warranty repair of trailers and refrigeration units.  During the three months ended March 31, 2012 and 2011, W&B invoiced the Company $540,000 and $277,000, respectively, for maintenance and repair services, accessories and parts.