Related Party Transactions

6 Months Ended

Jun. 30, 2012

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 June 30, 2012 and 2011, our equity investment in W&B was $1.2 million and $1.5 million, respectively, which is included in "Other Assets" in the accompanying consolidated condensed balance sheets.

For the three months ended June 30, 2012 and 2011, our equity in the earnings of W&B was $97,000 and $260,000, respectively.  For the six months ended June 30, 2012 and 2011, our equity in the earnings of W&B was $332,000 and $359,000, respectively. Cash distributions to us from W&B's earnings were $312,000 and $761,000 for the six months ended June 30, 2012 and 2011, respectively.

During the three months ended June 30, 2012 and 2011, the Company's purchases from W&B for trailers and refrigeration units totaled $0 and $3.6 million, respectively.  During the six month periods ended June 30, 2012 and 2011, the purchases were $0 and $3.6 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 June 30, 2012 and 2011, W&B invoiced the Company $359,000 and $370,000, respectively, for maintenance and repair services, accessories and parts.   During the six months ended June 30, 2012 and 2011, W&B invoiced the Company $899,000 and $647,000, respectively, for maintenance and repair services, accessories and parts.