Note 10 - Business Segments

3 Months Ended

Mar. 31, 2013

Segment Reporting Disclosure [Text Block]

(10)  Business Segments

We have seven 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, until we deconsolidated MWL effective March 28, 2013.  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 periods 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.

	Three Months Ended March 31,
(Dollars in thousands)	2013		2012
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	94,965	$	89,198
Truckload fuel surcharge revenue		26,769		25,253
Total Truckload revenue		121,734		114,451
Logistics revenue, net of intermodal fuel surcharge revenue(1)		37,760		33,436
Intermodal fuel surcharge revenue		4,980		3,587
Total Logistics revenue		42,740		37,023
Total operating revenue	$	164,474	$	151,474
Operating income:
Truckload	$	10,000	$	7,128
Logistics		2,538		2,391
Total operating income	$	12,538	$	9,519

(1) Logistics revenue is net of $2.1 million and $2.5 million of inter-segment revenue in the three-month periods ended March 31, 2013 and March 31, 2012, respectively, for loads transported by our tractors and arranged by MWL that have been eliminated in consolidation.

             Truckload segment depreciation expense was $14.5 million and $13.6 million, and Logistics segment depreciation expense was $1.2 million and $891,000, in the three-month periods ended March 31, 2013 and March 31, 2012, respectively.