Related Party Transactions

9 Months Ended

Sep. 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 September 30, 2012 and 2011, our equity investment in W&B was $1.4 million and $1.5 million, respectively, which is included in "Other Assets" in the accompanying consolidated condensed balance sheets.

For each of the three months ended September 30, 2012 and 2011, our equity in the earnings of W&B was $0.2 million.  For the nine months ended September 30, 2012 and 2011, our equity in the earnings of W&B was $0.5 million and $0.6 million, respectively.  Cash distributions to us from W&B's earnings were $0.4 million and $1.0 million for the nine months ended September 30, 2012 and 2011, respectively.

During the three months ended September 30, 2012 and 2011, the Company's purchases from W&B for trailers and refrigeration units totaled $0 and $19.5 million, respectively.  During the nine month periods ended September 30, 2012 and 2011, the purchases were $0 and $23.1 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, 2012 and 2011, W&B invoiced the Company $0.3 million and $0.2 million, respectively, for maintenance and repair services, accessories and parts.  During the nine months ended September 30, 2012 and 2011, W&B invoiced the Company $1.2 million and $0.8 million, respectively, for maintenance and repair services, accessories and parts.