Note 13 - Business Segments

12 Months Ended

Dec. 31, 2011

Segment Reporting Disclosure [Text Block]

13.  Business Segments

We have six operating segments that have been aggregated into two reporting segments (Truckload and Logistics) for financial reporting purposes.  The primary source of our operating revenue is truckload revenue, which we generate by transporting freight for our customers and report within our Truckload segment.  Generally, we are paid by the mile for our services.  We also derive truckload revenue from fuel surcharges, loading and unloading activities, equipment detention and other ancillary services.

Our operating revenue also includes revenue reported within our Logistics segment, which consists of revenue from our internal brokerage and intermodal operations, and through our 45% interest in MWL, a third-party provider of logistics services to the transportation industry.  Brokerage services involve arranging for another company to transport freight for our customers while we retain the billing, collection and customer management responsibilities.  Intermodal services involve the transport of our trailers on railroad flatcars for a portion of a trip, with the balance of the trip using our tractors or, to a lesser extent, contracted carriers.

The following table sets forth for the years indicated our operating revenue and operating income by segment.  We do not prepare separate balance sheets by segment and, as a result, assets are not separately identifiable by segment.

(Dollars in thousands)	2011		2010		2009
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	357,787	$	325,791	$	346,983
Truckload fuel surcharge revenue		98,060		66,973		49,812
Total Truckload revenue		455,847		392,764		396,795
Logistics revenue, net of intermodal fuel surcharge revenue(1)		132,890		115,223		103,166
Intermodal fuel surcharge revenue		14,942		8,933		5,913
Total Logistics revenue		147,832		124,156		109,079
Total operating revenue	$	603,679	$	516,920	$	505,874
Operating income:
Truckload	$	35,298	$	28,680	$	22,827
Logistics		7,732		6,609		6,532
Total operating income	$	43,030	$	35,289	$	29,359

 (1) Logistics revenue is net of $9.0 million, $9.1 million and $10.2 million of inter-segment revenue in 2011, 2010 and 2009, respectively, for loads transported by our tractors and arranged by MWL that have been eliminated in consolidation.

Truckload segment depreciation expense was $54.4 million, $49.0 million and $50.2 million, and Logistics segment depreciation expense was $3.1 million, $2.9 million and $2.9 million, in 2011, 2010 and 2009, respectively.