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Business Segments
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Business Segments

9. Business Segments

We report financial and descriptive information about our reportable operating segments on a basis consistent with that used internally for evaluating segment performance and allocating resources to segments. We evaluate performance primarily on operating income.

We charge management fees and other corporate service fees to our reporting segments based on the benefits received or an overhead allocation basis. Shared support functions include information technology, finance and accounting, legal, revenue management, risk management, procurement, and security. Corporate represents residual operating expenses of the holding company that are not attributable to any segment and remain unallocated. It also represents certain items that are permitted to be excluded from Adjusted EBITDA. Corporate identifiable assets primarily consist of cash and cash equivalents, restricted amounts held in escrow, information technology assets, and deferred debt issuance costs.  Intersegment revenue relates to transportation services between our segments.

We considered the disclosure requirements for revenue disaggregation guidance in ASC Topic 606 and noted that our segments disaggregate our revenues based on geographic and time-based factors as our Regional Transportation segment carriers operate in a smaller geographic footprint and have a shorter length of haul as compared to our YRC Freight segment.

As noted in Management’s Discussion and Analysis of Financial Condition and Results of Operations, we will be moving to a single segment in 2020 and will make further analysis on revenue disaggregation at that time.

Revenue from foreign sources totaled $79.6 million, $104.1 million, and $99.3 million for the years ended December 31, 2019, 2018, and 2017, respectively, and is mainly derived from Canada and, to a lesser extent, Mexico. Long-lived assets located in foreign countries totaled $7.2 million, $6.5 million and $5.3 million at December 31, 2019, 2018, and 2017, respectively.

The following table summarizes our operations by business segment:

 

(in millions)

 

YRC Freight

 

 

Regional

Transportation

 

 

Corporate/

Eliminations

 

 

Consolidated

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

External revenue

 

$

3,088.7

 

 

$

1,782.7

 

 

$

(0.2

)

 

$

4,871.2

 

Operating income (loss)

 

 

38.3

 

 

 

(4.8

)

 

 

(17.3

)

 

 

16.2

 

Identifiable assets

 

 

1,317.0

 

 

 

746.6

 

 

 

(232.0

)

 

 

1,831.6

 

Acquisition of property and equipment

 

 

(89.6

)

 

 

(45.5

)

 

 

(8.1

)

 

 

(143.2

)

Proceeds from disposal of property and equipment

 

 

14.1

 

 

 

11.8

 

 

 

 

 

 

25.9

 

Depreciation and amortization

 

 

86.5

 

 

 

64.6

 

 

 

1.3

 

 

 

152.4

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

External revenue

 

$

3,197.3

 

 

$

1,895.0

 

 

$

(0.3

)

 

$

5,092.0

 

Operating income (loss)

 

 

85.0

 

 

 

70.7

 

 

 

(12.8

)

 

 

142.9

 

Identifiable assets

 

 

973.6

 

 

 

626.4

 

 

 

17.1

 

 

 

1,617.1

 

Acquisition of property and equipment

 

 

(76.5

)

 

 

(62.9

)

 

 

(6.0

)

 

 

(145.4

)

Proceeds from disposal of property and equipment

 

 

35.8

 

 

 

0.6

 

 

 

 

 

 

36.4

 

Depreciation and amortization

 

 

82.2

 

 

 

65.0

 

 

 

0.5

 

 

 

147.7

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

External revenue

 

$

3,067.9

 

 

$

1,823.4

 

 

$

(0.3

)

 

$

4,891.0

 

Operating income (loss)

 

 

60.7

 

 

 

67.9

 

 

 

(9.6

)

 

 

119.0

 

Identifiable assets

 

 

1,042.1

 

 

 

607.4

 

 

 

(64.0

)

 

 

1,585.5

 

Acquisition of property and equipment

 

 

(66.6

)

 

 

(36.6

)

 

 

(0.1

)

 

 

(103.3

)

Proceeds from disposal of property and equipment

 

 

8.1

 

 

 

0.7

 

 

 

 

 

 

8.8

 

Depreciation and amortization

 

 

84.8

 

 

 

62.9

 

 

 

 

 

 

147.7